Nordic American Tankers (NYSE:NAT) Posts Quarterly Earnings Results

Key Points

• Nordic American Tankers reported a quarterly loss of ($0.02) EPS, missing the consensus estimate by ($0.05), with a net margin of 17.70% and a return on equity of 7.01%.
• The company's shares opened at $2.99, with a market cap of $632.07 million and a PE ratio of 17.56, while institutional investors own 44.29% of the stock.
• Analysts have set a price objective of $3.00, with some lowering their ratings to "sell," reflecting a cautious outlook on the stock's performance.

Nordic American Tankers (NYSE:NAT - Get Free Report) announced its quarterly earnings results on Thursday. The shipping company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05), reports. Nordic American Tankers had a net margin of 17.70% and a return on equity of 7.01%.

Nordic American Tankers Price Performance

Shares of Nordic American Tankers stock opened at $2.99 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.53. The company's 50-day moving average price is $2.79 and its two-hundred day moving average price is $2.65. Nordic American Tankers has a 52 week low of $2.13 and a 52 week high of $3.83. The stock has a market cap of $632.07 million, a PE ratio of 17.56 and a beta of -0.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Nordic American Tankers in the second quarter worth approximately $117,000. Tower Research Capital LLC TRC grew its position in Nordic American Tankers by 221.5% in the second quarter. Tower Research Capital LLC TRC now owns 25,170 shares of the shipping company's stock worth $66,000 after buying an additional 17,340 shares during the last quarter. Captrust Financial Advisors grew its position in Nordic American Tankers by 4.6% in the second quarter. Captrust Financial Advisors now owns 138,759 shares of the shipping company's stock worth $365,000 after buying an additional 6,162 shares during the last quarter. Tidal Investments LLC grew its position in Nordic American Tankers by 12.6% in the second quarter. Tidal Investments LLC now owns 89,493 shares of the shipping company's stock worth $235,000 after buying an additional 9,997 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Nordic American Tankers by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 19,890 shares of the shipping company's stock worth $52,000 after buying an additional 8,114 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research note on Thursday. Wall Street Zen lowered shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $3.50.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.