Nordic American Tanker Ltd (NYSE:NAT) – Equities research analysts at Seaport Global Securities raised their FY2018 earnings per share (EPS) estimates for Nordic American Tanker in a research note issued to investors on Monday, according to Zacks Investment Research. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings of $0.91 per share for the year, up from their prior forecast of $0.90.
Other research analysts have also issued reports about the stock. Vetr lowered shares of Nordic American Tanker from a “strong-buy” rating to a “buy” rating and set a $7.08 price objective on the stock. in a report on Monday, May 8th. Morgan Stanley cut their price objective on shares of Nordic American Tanker from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 7th. Zacks Investment Research upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Friday, February 10th. Credit Suisse Group AG reiterated a “neutral” rating on shares of Nordic American Tanker in a report on Wednesday, February 22nd. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $5.00 price objective (down from $7.00) on shares of Nordic American Tanker in a report on Monday, May 8th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.43.
Nordic American Tanker (NYSE:NAT) traded up 0.496% during midday trading on Tuesday, hitting $7.085. The company’s stock had a trading volume of 346,346 shares. Nordic American Tanker has a 12 month low of $6.51 and a 12 month high of $16.07. The company’s 50 day moving average price is $7.91 and its 200 day moving average price is $8.35. The firm’s market cap is $722.45 million.
Nordic American Tanker (NYSE:NAT) last posted its earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.04. The company had revenue of $55.20 million for the quarter, compared to analysts’ expectations of $55.53 million. Nordic American Tanker had a return on equity of 3.71% and a net margin of 13.88%. The company’s revenue was down 28.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS.
A number of hedge funds have recently bought and sold shares of NAT. Van Den Berg Management I Inc. acquired a new stake in Nordic American Tanker during the first quarter worth about $9,082,000. Norges Bank acquired a new stake in Nordic American Tanker during the fourth quarter worth about $5,608,000. Global X Management Co. LLC increased its stake in Nordic American Tanker by 99.6% in the first quarter. Global X Management Co. LLC now owns 1,049,215 shares of the shipping company’s stock worth $8,583,000 after buying an additional 523,510 shares during the period. Wells Fargo & Company MN increased its stake in Nordic American Tanker by 86.8% in the first quarter. Wells Fargo & Company MN now owns 408,783 shares of the shipping company’s stock worth $3,344,000 after buying an additional 189,905 shares during the period. Finally, State Street Corp increased its stake in Nordic American Tanker by 12.3% in the fourth quarter. State Street Corp now owns 1,624,244 shares of the shipping company’s stock worth $13,646,000 after buying an additional 177,465 shares during the period. 31.57% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Monday, May 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 11.35%. The ex-dividend date is Thursday, May 18th. Nordic American Tanker’s dividend payout ratio (DPR) is presently 210.53%.
About Nordic American Tanker
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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