Nordic American Tankers Limited (NYSE:NAT) Expected to Post Quarterly Sales of $43.04 Million

Brokerages forecast that Nordic American Tankers Limited (NYSE:NAT) will announce $43.04 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Nordic American Tankers Limited’s earnings. The lowest sales estimate is $37.64 million and the highest is $46.20 million. Nordic American Tankers Limited posted sales of $5.07 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 748.9%. The company is scheduled to announce its next quarterly earnings report on Monday, August 14th.

According to Zacks, analysts expect that Nordic American Tankers Limited will report full-year sales of $43.04 million for the current financial year, with estimates ranging from $174.91 million to $214.00 million. For the next fiscal year, analysts expect that the company will post sales of $260.50 million per share, with estimates ranging from $223.90 million to $283.22 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Nordic American Tankers Limited.

Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $55.20 million for the quarter, compared to analyst estimates of $55.53 million. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. Nordic American Tankers Limited’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS.

A number of research firms have recently commented on NAT. Zacks Investment Research cut shares of Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Maxim Group restated a “sell” rating and issued a $6.00 target price on shares of Nordic American Tankers Limited in a report on Friday, April 21st. Jefferies Group LLC restated a “sell” rating and issued a $7.00 target price on shares of Nordic American Tankers Limited in a report on Friday, March 31st. Finally, Vetr upgraded shares of Nordic American Tankers Limited from a “sell” rating to a “hold” rating and set a $7.08 target price on the stock in a report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.42.

Nordic American Tankers Limited (NYSE NAT) traded down 1.216% during trading on Friday, reaching $6.095. The company’s stock had a trading volume of 687,893 shares. Nordic American Tankers Limited has a one year low of $5.47 and a one year high of $14.41. The firm’s market cap is $621.50 million. The company has a 50-day moving average of $6.37 and a 200 day moving average of $7.82.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Monday, May 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.97%. Nordic American Tankers Limited’s dividend payout ratio is presently 4,000.00%.

A number of large investors have recently made changes to their positions in NAT. IFP Advisors Inc raised its stake in Nordic American Tankers Limited by 0.3% in the first quarter. IFP Advisors Inc now owns 23,286 shares of the shipping company’s stock valued at $190,000 after buying an additional 73 shares in the last quarter. Nationwide Fund Advisors raised its stake in Nordic American Tankers Limited by 0.8% in the first quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock valued at $477,000 after buying an additional 469 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Nordic American Tankers Limited by 7.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,502 shares of the shipping company’s stock valued at $105,000 after buying an additional 919 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Nordic American Tankers Limited by 4.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,507 shares of the shipping company’s stock valued at $192,000 after buying an additional 1,000 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Nordic American Tankers Limited by 5.6% in the first quarter. Legal & General Group Plc now owns 34,598 shares of the shipping company’s stock valued at $283,000 after buying an additional 1,835 shares in the last quarter. Institutional investors own 26.78% of the company’s stock.

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Nordic American Tankers Limited Company Profile

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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Earnings History and Estimates for Nordic American Tankers Limited (NYSE:NAT)

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