Brokers Issue Forecasts for Nordic American Tankers Ltd.’s Q3 2016 Earnings (NAT)
Nordic American Tankers Ltd. (NYSE:NAT) – Research analysts at Jefferies Group cut their Q3 2016 earnings estimates for Nordic American Tankers in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Mavrinac now anticipates that the firm will earn ($0.16) per share for the quarter, down from their previous estimate of ($0.13). Jefferies Group currently has a “Sell” rating on the stock.
Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same period last year, the business earned $0.35 earnings per share.
A number of other research firms have also recently issued reports on NAT. ABN Amro cut Nordic American Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Vetr upgraded Nordic American Tankers from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, June 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $9.00 price objective (down from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Finally, Zacks Investment Research upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $13.16.
Shares of Nordic American Tankers (NYSE:NAT) opened at 9.94 on Thursday. The stock has a market capitalization of $887.83 million, a price-to-earnings ratio of 9.03 and a beta of 1.21. Nordic American Tankers has a 52-week low of $9.85 and a 52-week high of $17.02. The stock has a 50 day moving average of $10.66 and a 200-day moving average of $13.32.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 10.06%. Nordic American Tankers’s payout ratio is currently 90.09%.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Nordic American Tankers by 62.9% in the first quarter. BlackRock Inc. now owns 45,815 shares of the company’s stock valued at $645,000 after buying an additional 17,697 shares during the last quarter. Norges Bank bought a new position in Nordic American Tankers during the fourth quarter valued at about $11,307,000. HighPoint Advisor Group LLC raised its position in Nordic American Tankers by 1.3% in the second quarter. HighPoint Advisor Group LLC now owns 16,100 shares of the company’s stock valued at $198,000 after buying an additional 200 shares during the last quarter. BB&T Securities LLC bought a new position in Nordic American Tankers during the second quarter valued at about $144,000. Finally, Teachers Advisors Inc. raised its position in Nordic American Tankers by 5.2% in the first quarter. Teachers Advisors Inc. now owns 137,754 shares of the company’s stock valued at $1,941,000 after buying an additional 6,828 shares during the last quarter. Institutional investors own 32.97% of the company’s stock.
About Nordic American Tankers
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.
Receive News & Stock Ratings for Nordic American Tankers Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers Ltd. and related stocks with our FREE daily email newsletter.