Q3 2018 EPS Estimates for Nordic American Tanker Ltd (NAT) Lifted by Seaport Global Securities

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Nordic American Tanker Ltd (NYSE:NAT) – Seaport Global Securities increased their Q3 2018 earnings estimates for shares of Nordic American Tanker in a note issued to investors on Wednesday, August 15th. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will earn ($0.13) per share for the quarter, up from their prior forecast of ($0.15). Seaport Global Securities also issued estimates for Nordic American Tanker’s Q4 2018 earnings at ($0.03) EPS, FY2018 earnings at ($0.45) EPS and Q4 2019 earnings at ($0.06) EPS.

Nordic American Tanker (NYSE:NAT) last posted its earnings results on Tuesday, August 14th. The shipping company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). The company had revenue of $27.01 million for the quarter, compared to the consensus estimate of $28.57 million. Nordic American Tanker had a negative return on equity of 12.23% and a negative net margin of 70.33%.

Several other brokerages also recently issued reports on NAT. Zacks Investment Research downgraded Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Wednesday, April 25th. ValuEngine cut Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Morgan Stanley lowered their target price on Nordic American Tanker from $2.50 to $2.25 and set an “equal weight” rating for the company in a research note on Wednesday, April 25th. Finally, Maxim Group reissued a “sell” rating and issued a $1.00 target price on shares of Nordic American Tanker in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Nordic American Tanker has a consensus rating of “Hold” and a consensus target price of $2.38.

Nordic American Tanker stock opened at $2.11 on Monday. The company has a quick ratio of 3.82, a current ratio of 4.97 and a debt-to-equity ratio of 0.56. The company has a market cap of $335.05 million, a P/E ratio of -2.95 and a beta of 0.47. Nordic American Tanker has a one year low of $1.82 and a one year high of $5.84.

Institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC grew its stake in shares of Nordic American Tanker by 568.7% during the first quarter. MetLife Investment Advisors LLC now owns 67,571 shares of the shipping company’s stock worth $131,000 after purchasing an additional 57,466 shares during the period. Raymond James & Associates grew its stake in shares of Nordic American Tanker by 89.3% during the second quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock worth $140,000 after purchasing an additional 24,603 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Nordic American Tanker during the second quarter worth $142,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Nordic American Tanker by 116.6% during the second quarter. Metropolitan Life Insurance Co. NY now owns 60,328 shares of the shipping company’s stock worth $162,000 after purchasing an additional 32,471 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Nordic American Tanker by 34.7% during the first quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock worth $211,000 after purchasing an additional 28,033 shares during the period. 23.97% of the stock is owned by institutional investors and hedge funds.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Wednesday, August 22nd will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 21st. This is a boost from Nordic American Tanker’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.79%. Nordic American Tanker’s payout ratio is -5.63%.

Nordic American Tanker Company Profile

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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