Analysts predict that Nordic American Tankers Limited (NYSE:NAT) will report sales of $43.04 million for the current quarter, according to Zacks. Three analysts have made estimates for Nordic American Tankers Limited’s earnings, with the highest sales estimate coming in at $46.20 million and the lowest estimate coming in at $37.64 million. Nordic American Tankers Limited reported sales of $5.07 million in the same quarter last year, which indicates a positive year-over-year growth rate of 748.9%. The company is scheduled to issue its next earnings report on Monday, August 14th.

On average, analysts expect that Nordic American Tankers Limited will report full year sales of $43.04 million for the current fiscal year, with estimates ranging from $174.91 million to $214.00 million. For the next financial year, analysts anticipate that the company will post sales of $260.50 million per share, with estimates ranging from $223.90 million to $283.22 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Nordic American Tankers Limited.

Nordic American Tankers Limited (NYSE:NAT) last posted its earnings results on Monday, May 8th. The shipping company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $55.20 million during the quarter, compared to the consensus estimate of $55.53 million. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The business’s revenue was down 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share.

A number of research firms have recently issued reports on NAT. Zacks Investment Research downgraded shares of Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. Vetr downgraded shares of Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $6.89 price objective on the stock. in a report on Thursday, June 1st. Jefferies Group LLC reiterated a “sell” rating and issued a $5.00 price objective (down from $7.00) on shares of Nordic American Tankers Limited in a report on Monday, May 8th. Finally, Maxim Group lowered their price objective on shares of Nordic American Tankers Limited from $6.00 to $5.00 and set a “sell” rating on the stock in a report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.42.

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Nordic American Tankers Limited (NAT) traded up 0.64% during mid-day trading on Friday, reaching $6.27. 676,141 shares of the company’s stock traded hands. Nordic American Tankers Limited has a 1-year low of $5.47 and a 1-year high of $14.41. The stock’s market cap is $639.35 million. The firm has a 50-day moving average price of $6.37 and a 200-day moving average price of $7.82.

A number of institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its position in shares of Nordic American Tankers Limited by 9.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 67,117 shares of the shipping company’s stock worth $564,000 after buying an additional 6,012 shares during the last quarter. State Street Corp increased its position in shares of Nordic American Tankers Limited by 12.3% in the fourth quarter. State Street Corp now owns 1,624,244 shares of the shipping company’s stock worth $13,646,000 after buying an additional 177,465 shares during the last quarter. Van Den Berg Management I Inc. purchased a new position in shares of Nordic American Tankers Limited during the first quarter worth $9,082,000. Wells Fargo & Company MN increased its position in shares of Nordic American Tankers Limited by 86.8% in the first quarter. Wells Fargo & Company MN now owns 408,783 shares of the shipping company’s stock worth $3,344,000 after buying an additional 189,905 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Nordic American Tankers Limited by 0.8% in the first quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock worth $477,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 26.78% of the company’s stock.

About Nordic American Tankers Limited

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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

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