Nordic American Tankers Limited (NYSE:NAT) Expected to Announce Quarterly Sales of $16.35 Million

Wall Street brokerages expect Nordic American Tankers Limited (NYSE:NAT) to post $16.35 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Nordic American Tankers’ earnings. The highest sales estimate is $17.17 million and the lowest is $15.67 million. Nordic American Tankers posted sales of $37.29 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 56.2%. The firm is expected to report its next earnings results on Tuesday, November 16th.

On average, analysts expect that Nordic American Tankers will report full year sales of $90.24 million for the current financial year, with estimates ranging from $83.51 million to $99.42 million. For the next financial year, analysts anticipate that the business will post sales of $192.09 million, with estimates ranging from $180.46 million to $202.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Nordic American Tankers.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Sunday, August 29th. The shipping company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Nordic American Tankers had a negative return on equity of 15.60% and a negative net margin of 103.66%. The business had revenue of $16.75 million for the quarter, compared to analyst estimates of $19.04 million.

NAT has been the topic of several research analyst reports. TheStreet lowered Nordic American Tankers from a “c-” rating to a “d” rating in a research report on Friday, September 3rd. Zacks Investment Research lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, July 28th. B. Riley dropped their price target on Nordic American Tankers from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 31st. Finally, HC Wainwright restated a “hold” rating and set a $3.75 price target on shares of Nordic American Tankers in a research note on Wednesday, May 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.88.

Shares of NYSE NAT opened at $2.21 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.56 and a current ratio of 2.02. Nordic American Tankers has a fifty-two week low of $2.08 and a fifty-two week high of $4.05. The firm has a market capitalization of $334.70 million, a PE ratio of -3.68 and a beta of 0.58. The stock’s 50-day simple moving average is $2.45 and its 200-day simple moving average is $3.04.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Friday, September 24th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 23rd. Nordic American Tankers’s dividend payout ratio (DPR) is presently 23.53%.

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new position in Nordic American Tankers in the 1st quarter worth $33,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Nordic American Tankers during the 1st quarter worth about $36,000. Fort Point Capital Partners LLC bought a new stake in shares of Nordic American Tankers in the 2nd quarter valued at about $36,000. Financial Architects Inc bought a new stake in shares of Nordic American Tankers in the 1st quarter valued at about $37,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Nordic American Tankers in the 1st quarter valued at about $43,000. Institutional investors own 32.10% of the company’s stock.

About Nordic American Tankers

Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.

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