Nordic American Tankers Limited (NYSE:NAT) – Jefferies Group decreased their Q3 2017 earnings per share estimates for shares of Nordic American Tankers Limited in a report released on Thursday. Jefferies Group analyst D. Mavrinac now forecasts that the shipping company will earn ($0.33) per share for the quarter, down from their previous estimate of ($0.27). Jefferies Group currently has a “Sell” rating and a $5.00 target price on the stock. Jefferies Group also issued estimates for Nordic American Tankers Limited’s FY2017 earnings at ($0.54) EPS.

Several other equities analysts have also recently weighed in on NAT. Maxim Group set a $4.00 price objective on Nordic American Tankers Limited and gave the stock a “sell” rating in a research report on Monday, August 7th. Zacks Investment Research cut Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 5th. TheStreet cut Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a research report on Thursday, August 10th. BidaskClub cut Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Evercore ISI cut Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and cut their price objective for the stock from $6.00 to $5.00 in a research report on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.42.

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Shares of Nordic American Tankers Limited (NAT) opened at 4.98 on Monday. The firm’s 50-day moving average price is $5.33 and its 200 day moving average price is $6.15. The stock’s market capitalization is $507.81 million. Nordic American Tankers Limited has a 12-month low of $4.41 and a 12-month high of $9.95.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The business had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $42.47 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Nordic American Tankers Limited’s revenue for the quarter was down 29.2% compared to the same quarter last year.

A number of institutional investors have recently bought and sold shares of NAT. Northern Trust Corp raised its holdings in Nordic American Tankers Limited by 40.4% in the 2nd quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after acquiring an additional 659,827 shares in the last quarter. Greylin Investment Mangement Inc. raised its holdings in Nordic American Tankers Limited by 105.0% in the 2nd quarter. Greylin Investment Mangement Inc. now owns 398,075 shares of the shipping company’s stock valued at $2,524,000 after acquiring an additional 203,850 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Nordic American Tankers Limited by 46.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company’s stock valued at $2,760,000 after acquiring an additional 138,574 shares in the last quarter. State Street Corp raised its holdings in Nordic American Tankers Limited by 6.9% in the 2nd quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after acquiring an additional 114,052 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Nordic American Tankers Limited by 19.0% in the 2nd quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock valued at $3,085,000 after acquiring an additional 77,822 shares in the last quarter. 23.18% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Limited Company Profile

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.

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

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