Q3 2017 EPS Estimates for Nordic American Tankers Limited (NYSE:NAT) Reduced by Seaport Global Securities

Nordic American Tankers Limited (NYSE:NAT) – Stock analysts at Seaport Global Securities lowered their Q3 2017 earnings per share (EPS) estimates for Nordic American Tankers Limited in a research note issued to investors on Monday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings per share of ($0.26) for the quarter, down from their previous estimate of ($0.08). Seaport Global Securities also issued estimates for Nordic American Tankers Limited’s FY2017 earnings at ($0.43) EPS.

NAT has been the subject of a number of other research reports. Vetr raised Nordic American Tankers Limited from a “hold” rating to a “buy” rating and set a $7.08 price target for the company in a report on Wednesday, May 24th. Zacks Investment Research lowered Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Jefferies Group LLC restated a “sell” rating and issued a $5.00 price target (down from $7.00) on shares of Nordic American Tankers Limited in a research report on Monday, May 8th. Maxim Group dropped their price target on Nordic American Tankers Limited from $6.00 to $5.00 and set a “sell” rating for the company in a research report on Monday, May 15th. Finally, BidaskClub lowered Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Five equities research 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.93.

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Shares of Nordic American Tankers Limited (NAT) opened at 5.59 on Wednesday. Nordic American Tankers Limited has a 52-week low of $5.39 and a 52-week high of $12.52. The stock’s market cap is $570.01 million. The company’s 50 day moving average price is $6.08 and its 200 day moving average price is $7.36.

Nordic American Tankers Limited (NYSE:NAT) last released its earnings results 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 business posted $0.15 EPS. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date of this dividend is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio (DPR) is 4,000.00%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAT. Smith Moore & CO. boosted its position in Nordic American Tankers Limited by 8.0% in the first quarter. Smith Moore & CO. now owns 64,232 shares of the shipping company’s stock worth $525,000 after buying an additional 4,750 shares during the period. Parametric Portfolio Associates LLC boosted its position in Nordic American Tankers Limited by 8.1% in the first quarter. Parametric Portfolio Associates LLC now owns 56,164 shares of the shipping company’s stock worth $459,000 after buying an additional 4,220 shares during the period. Karp Capital Management Corp purchased a new position in Nordic American Tankers Limited during the first quarter worth approximately $118,000. Sheaff Brock Investment Advisors LLC boosted its position in Nordic American Tankers Limited by 4.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,507 shares of the shipping company’s stock worth $192,000 after buying an additional 1,000 shares during the period. Finally, Carl Domino Inc boosted its position in Nordic American Tankers Limited by 13.1% in the first quarter. Carl Domino Inc now owns 159,170 shares of the shipping company’s stock worth $1,302,000 after buying an additional 18,420 shares during the period. Institutional investors own 27.02% of the company’s stock.

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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