Nordic American Tankers Ltd. (NYSE:NAT) – Seaport Global Securities cut their Q3 2016 earnings per share estimates for shares of Nordic American Tankers in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will post earnings of ($0.12) per share for the quarter, down from their previous forecast of ($0.10). Seaport Global Securities also issued estimates for Nordic American Tankers’ FY2017 earnings at $0.40 EPS.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Nordic American Tankers had a return on equity of 11.28% and a net margin of 34.79%. During the same period in the previous year, the company posted $0.35 EPS.

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

A number of other analysts have also weighed in on NAT. Vetr raised shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating and set a $15.80 price objective on the stock in a research report on Wednesday, July 13th. Zacks Investment Research raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Jefferies Group reaffirmed a “sell” rating on shares of Nordic American Tankers in a research report on Tuesday, September 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.00 target price (down from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Finally, ABN Amro lowered shares of Nordic American Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Three equities 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 company. Nordic American Tankers has an average rating of “Hold” and an average price target of $12.63.

Shares of Nordic American Tankers (NYSE:NAT) opened at 9.10 on Thursday. Nordic American Tankers has a 12 month low of $8.94 and a 12 month high of $16.68. The company has a market capitalization of $812.80 million, a PE ratio of 8.27 and a beta of 1.05. The stock has a 50 day moving average price of $10.23 and a 200-day moving average price of $13.00.

A number of large investors have recently made changes to their positions in the stock. Arlington Capital Management Inc. increased its stake in shares of Nordic American Tankers by 44.1% in the second quarter. Arlington Capital Management Inc. now owns 145,272 shares of the company’s stock valued at $2,018,000 after buying an additional 44,453 shares during the period. Bank of New York Mellon Corp increased its stake in shares of 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 period. Capital Fund Management S.A. increased its stake in shares of Nordic American Tankers by 56.8% in the second quarter. Capital Fund Management S.A. now owns 88,282 shares of the company’s stock valued at $1,226,000 after buying an additional 31,990 shares during the period. Bank of Montreal Can purchased a new stake in shares of Nordic American Tankers during the second quarter valued at $724,000. Finally, Murphy Capital Management Inc. increased its stake in shares of Nordic American Tankers by 9.2% in the second quarter. Murphy Capital Management Inc. now owns 15,400 shares of the company’s stock valued at $213,000 after buying an additional 1,300 shares during the period. Institutional investors own 29.31% of the company’s stock.

Nordic American Tankers Company Profile

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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