Nordic American Tankers Ltd. (NYSE:NAT) – Seaport Global Securities cut their Q1 2017 earnings per share (EPS) estimates for shares of Nordic American Tankers in a report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the brokerage will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.18. Seaport Global Securities also issued estimates for Nordic American Tankers’ Q2 2017 earnings at $0.10 EPS, Q3 2017 earnings at $0.10 EPS and Q4 2017 earnings at $0.09 EPS.

Several other brokerages have also issued reports on NAT. Jefferies Group set a $8.00 price objective on shares of Nordic American Tankers and gave the company an “underperform” rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Clarkson Capital downgraded shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $10.00 in a research note on Monday, October 3rd. ABN Amro downgraded shares of Nordic American Tankers from a “buy” rating to a “sell” rating in a research note on Thursday, June 30th. Finally, Vetr downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating and set a $14.14 target price for the company. in a research note on Thursday, June 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.63.

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

Shares of Nordic American Tankers (NYSE:NAT) traded down 2.52% during midday trading on Wednesday, reaching $9.29. 2,023,423 shares of the company’s stock were exchanged. Nordic American Tankers has a one year low of $9.22 and a one year high of $16.68. The stock’s 50-day moving average is $10.32 and its 200 day moving average is $13.05. The firm has a market cap of $829.77 million, a PE ratio of 8.45 and a beta of 1.05.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, beating 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 quarter last year, the firm posted $0.35 earnings per share.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Nordic American Tankers by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,314,203 shares of the company’s stock valued at $59,924,000 after buying an additional 149,318 shares during the last quarter. State Street Corp increased its stake in Nordic American Tankers by 4.6% in the second quarter. State Street Corp now owns 1,435,967 shares of the company’s stock valued at $19,947,000 after buying an additional 62,919 shares during the last quarter. Allianz Asset Management AG increased its stake in Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock valued at $17,002,000 after buying an additional 252,467 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Nordic American Tankers by 90.9% in the second quarter. Bank of New York Mellon Corp now owns 1,158,340 shares of the company’s stock valued at $16,090,000 after buying an additional 551,470 shares during the last quarter. Finally, UBS Group AG increased its stake in Nordic American Tankers by 17.5% in the first quarter. UBS Group AG now owns 759,057 shares of the company’s stock valued at $10,695,000 after buying an additional 112,961 shares during the last quarter. Institutional investors and hedge funds own 29.31% 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.

5 Day Chart for NYSE:NAT

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