Nordic American Tankers (NYSE:NAT) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Nordic American Tankers (NYSE:NAT) released its earnings results on Thursday. The shipping company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01, Zacks reports. Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%.

Nordic American Tankers Stock Down 2.0%

NAT opened at $5.22 on Thursday. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.11 billion, a PE ratio of 74.64 and a beta of -0.54. The stock’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $4.68. Nordic American Tankers has a 1-year low of $2.55 and a 1-year high of $6.34.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stokes Family Office LLC bought a new position in shares of Nordic American Tankers in the fourth quarter worth $37,000. Parkside Financial Bank & Trust boosted its stake in Nordic American Tankers by 2,800.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after buying an additional 10,500 shares in the last quarter. SmartHarvest Portfolios LLC acquired a new stake in Nordic American Tankers in the fourth quarter valued at about $40,000. Cibc World Markets Corp acquired a new stake in Nordic American Tankers in the fourth quarter valued at about $47,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Nordic American Tankers in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore cut shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $4.00.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.