Zacks: Brokerages Expect Nordic American Tanker Ltd (NAT) to Post -$0.12 EPS

Brokerages predict that Nordic American Tanker Ltd (NYSE:NAT) will announce earnings per share of ($0.12) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nordic American Tanker’s earnings, with the lowest EPS estimate coming in at ($0.13) and the highest estimate coming in at ($0.10). Nordic American Tanker posted earnings of ($0.34) per share in the same quarter last year, which indicates a positive year over year growth rate of 64.7%. The firm is expected to issue its next earnings report on Friday, November 2nd.

Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Nordic American Tanker.

Nordic American Tanker (NYSE:NAT) last released its quarterly earnings data on Tuesday, August 14th. The shipping company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The company had revenue of $27.01 million for the quarter, compared to analysts’ expectations of $28.57 million. Nordic American Tanker had a negative return on equity of 13.97% and a negative net margin of 87.25%.

NAT has been the subject of a number of research reports. Zacks Investment Research cut shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine cut shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. BTIG Research initiated coverage on shares of Nordic American Tanker in a research report on Thursday, September 27th. They set a “neutral” rating for the company. Morgan Stanley lifted their target price on shares of Nordic American Tanker from $2.25 to $2.50 and gave the stock a “$2.37” rating in a research report on Wednesday, July 18th. Finally, Maxim Group restated a “sell” rating and set a $1.00 target price on shares of Nordic American Tanker in a research report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $2.38.

NAT traded up $0.02 during midday trading on Friday, reaching $2.37. 433,200 shares of the company’s stock were exchanged, compared to its average volume of 1,259,400. The company has a current ratio of 2.91, a quick ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $329.37 million, a P/E ratio of -3.35 and a beta of 0.30. Nordic American Tanker has a 1-year low of $1.82 and a 1-year high of $5.16.

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC raised its position in Nordic American Tanker by 568.7% during the first quarter. MetLife Investment Advisors LLC now owns 67,571 shares of the shipping company’s stock worth $131,000 after acquiring an additional 57,466 shares during the last quarter. Raymond James & Associates raised its position in shares of Nordic American Tanker by 89.3% in the second quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock valued at $140,000 after buying an additional 24,603 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Nordic American Tanker in the second quarter valued at approximately $142,000. Metropolitan Life Insurance Co. NY raised its position in shares of Nordic American Tanker by 116.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 60,328 shares of the shipping company’s stock valued at $162,000 after buying an additional 32,471 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Nordic American Tanker by 34.7% in the first quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock valued at $211,000 after buying an additional 28,033 shares during the last quarter. Institutional investors own 24.82% of the company’s stock.

Nordic American Tanker Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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

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