Brokerages forecast that Nordic American Tankers Limited (NYSE:NAT) will announce sales of $42.14 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nordic American Tankers' earnings, with estimates ranging from $40.39 million to $43.88 million. Nordic American Tankers reported sales of $32.35 million in the same quarter last year, which indicates a positive year-over-year growth rate of 30.3%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 23rd.
According to Zacks, analysts expect that Nordic American Tankers will report full year sales of $278.07 million for the current financial year, with estimates ranging from $263.13 million to $293.01 million. For the next fiscal year, analysts forecast that the company will post sales of $273.56 million, with estimates ranging from $264.03 million to $283.08 million. Zacks' sales averages are a mean average based on a survey of research analysts that cover Nordic American Tankers.
Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Monday, August 17th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $93.77 million during the quarter, compared to analyst estimates of $88.19 million. Nordic American Tankers had a net margin of 32.35% and a return on equity of 14.59%.
NAT has been the topic of several recent analyst reports. Zacks Investment Research upgraded Nordic American Tankers from a "sell" rating to a "hold" rating in a report on Friday, August 21st. TheStreet upgraded shares of Nordic American Tankers from a "c" rating to a "b-" rating in a report on Wednesday, September 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of "Hold" and a consensus target price of $5.13.
Large investors have recently bought and sold shares of the stock. Pathstone Family Office LLC raised its position in Nordic American Tankers by 2.7% in the 1st quarter. Pathstone Family Office LLC now owns 98,750 shares of the shipping company's stock valued at $447,000 after buying an additional 2,609 shares during the last quarter. American International Group Inc. raised its holdings in shares of Nordic American Tankers by 6.9% in the second quarter. American International Group Inc. now owns 88,201 shares of the shipping company's stock valued at $358,000 after purchasing an additional 5,720 shares during the last quarter. GWM Advisors LLC raised its holdings in shares of Nordic American Tankers by 60.3% in the second quarter. GWM Advisors LLC now owns 19,400 shares of the shipping company's stock valued at $79,000 after purchasing an additional 7,300 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Nordic American Tankers by 28.3% during the first quarter. BNP Paribas Arbitrage SA now owns 43,219 shares of the shipping company's stock worth $196,000 after purchasing an additional 9,545 shares during the last quarter. Finally, Signet Financial Management LLC bought a new position in Nordic American Tankers in the first quarter valued at $49,000. Institutional investors and hedge funds own 28.51% of the company's stock.
Shares of Nordic American Tankers stock opened at $3.50 on Friday. The company has a market capitalization of $515.69 million, a P/E ratio of 5.93 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 1.70. The business has a 50-day moving average of $3.76 and a two-hundred day moving average of $4.37. Nordic American Tankers has a 1 year low of $2.30 and a 1 year high of $9.00.
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 23 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.
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