Wall Street analysts predict that Nordic American Tanker Ltd (NYSE:NAT) will post ($0.14) earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Nordic American Tanker’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.16). Nordic American Tanker reported earnings per share of ($0.16) during the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The company is scheduled to report its next earnings report on Monday, December 17th.

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

Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Wednesday, May 16th. The shipping company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.07. The firm had revenue of $29.62 million for the quarter, compared to analyst estimates of $31.25 million. Nordic American Tanker had a negative net margin of 70.33% and a negative return on equity of 12.23%.

NAT has been the topic of several recent research reports. Morgan Stanley raised their price objective on shares of Nordic American Tanker from $2.25 to $2.50 and gave the company a “$2.37” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Nordic American Tanker from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Tuesday, July 31st. Finally, ValuEngine upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.38.

Several institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC boosted its stake 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 buying an additional 57,466 shares in the last quarter. Jane Street Group LLC boosted its stake in Nordic American Tanker by 433.5% during the fourth quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock worth $206,000 after buying an additional 67,899 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Nordic American Tanker by 34.7% during the first quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock worth $211,000 after buying an additional 28,033 shares in the last quarter. Millennium Management LLC boosted its stake in Nordic American Tanker by 257.3% during the fourth quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock worth $246,000 after buying an additional 72,002 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Nordic American Tanker by 57.1% during the first quarter. New York State Common Retirement Fund now owns 150,700 shares of the shipping company’s stock worth $292,000 after buying an additional 54,800 shares in the last quarter. Institutional investors and hedge funds own 24.46% of the company’s stock.

Nordic American Tanker traded down $0.17, hitting $2.36, during midday trading on Friday, according to Marketbeat.com. 755,119 shares of the company’s stock traded hands, compared to its average volume of 992,581. The company has a quick ratio of 3.82, a current ratio of 4.97 and a debt-to-equity ratio of 0.56. Nordic American Tanker has a one year low of $1.82 and a one year high of $5.84.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Wednesday, August 22nd will be paid a $0.02 dividend. This is an increase from Nordic American Tanker’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, August 21st. This represents a $0.08 annualized dividend and a dividend yield of 3.39%. Nordic American Tanker’s dividend payout ratio (DPR) is presently -5.63%.

About Nordic American Tanker

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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