Wall Street analysts predict that Nordic American Tanker Ltd (NYSE:NAT) will post sales of $41.11 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Nordic American Tanker’s earnings, with the lowest sales estimate coming in at $35.51 million and the highest estimate coming in at $49.82 million. Nordic American Tanker reported sales of $36.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12%. The firm is scheduled to report its next earnings results on Monday, February 11th.

According to Zacks, analysts expect that Nordic American Tanker will report full-year sales of $123.12 million for the current financial year, with estimates ranging from $114.20 million to $136.56 million. For the next year, analysts expect that the firm will post sales of $163.70 million, with estimates ranging from $145.29 million to $199.68 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Nordic American Tanker.

Nordic American Tanker (NYSE:NAT) last released its earnings results on Tuesday, August 14th. The shipping company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The firm had revenue of $27.01 million for the quarter, compared to analyst estimates of $28.57 million. Nordic American Tanker had a negative net margin of 87.25% and a negative return on equity of 13.97%.

A number of analysts have weighed in on NAT shares. Morgan Stanley increased their target price on shares of Nordic American Tanker from $2.25 to $2.50 and gave the company a “$2.37” rating in a research report on Wednesday, July 18th. B. Riley began coverage on shares of Nordic American Tanker in a research report on Friday. They set a “buy” rating and a $4.25 price objective for the company. Zacks Investment Research raised shares of Nordic American Tanker from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research report on Tuesday, July 31st. Seaport Global Securities set a $3.00 price objective on shares of Nordic American Tanker and gave the stock a “hold” rating in a research report on Monday. Finally, ValuEngine raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $2.68.

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates grew its position in shares of Nordic American Tanker by 89.3% during the 2nd quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock worth $140,000 after buying an additional 24,603 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Nordic American Tanker during the 2nd quarter worth approximately $142,000. Metropolitan Life Insurance Co. NY grew its position in shares of Nordic American Tanker by 116.6% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 60,328 shares of the shipping company’s stock worth $162,000 after buying an additional 32,471 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Nordic American Tanker by 34.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock worth $211,000 after buying an additional 28,033 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Nordic American Tanker by 39.7% in the 2nd quarter. California Public Employees Retirement System now owns 96,521 shares of the shipping company’s stock worth $259,000 after purchasing an additional 27,421 shares in the last quarter. 24.95% of the stock is owned by institutional investors.

NYSE:NAT traded down $0.10 on Thursday, reaching $2.86. 1,519,771 shares of the stock traded hands, compared to its average volume of 1,315,427. The company has a market capitalization of $479.86 million, a PE ratio of -4.03 and a beta of -0.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.53 and a current ratio of 2.91. Nordic American Tanker has a 1-year low of $1.82 and a 1-year high of $4.24.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.10 per share. This is an increase from Nordic American Tanker’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.40 annualized dividend and a dividend yield of 13.99%. Nordic American Tanker’s dividend payout ratio (DPR) is -11.27%.

About Nordic American Tanker

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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

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