Brokerages expect that Nordic American Tanker Ltd (NYSE:NAT) will announce $42.14 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Nordic American Tanker’s earnings, with the highest sales estimate coming in at $43.88 million and the lowest estimate coming in at $40.39 million. Nordic American Tanker reported sales of $32.35 million during the same quarter last year, which indicates a positive year over year growth rate of 30.3%. The firm is scheduled to issue its next earnings report on Monday, November 23rd.
According to Zacks, analysts expect that Nordic American Tanker 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 firm will post sales of $273.56 million, with estimates ranging from $264.03 million to $283.08 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings results on Monday, August 17th. The shipping company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Nordic American Tanker had a return on equity of 14.88% and a net margin of 32.35%.
NAT has been the topic of a number of recent analyst reports. ValuEngine cut Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. Zacks Investment Research upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.75.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Nordic American Tanker during the 2nd quarter worth about $41,000. Signet Financial Management LLC bought a new stake in shares of Nordic American Tanker during the 1st quarter valued at approximately $49,000. Pinnacle Associates Ltd. bought a new stake in Nordic American Tanker during the 1st quarter worth approximately $59,000. Pettinga Financial Advisors LLC acquired a new position in shares of Nordic American Tanker in the 2nd quarter worth approximately $74,000. Finally, Blair William & Co. IL acquired a new position in shares of Nordic American Tanker in the 1st quarter worth approximately $78,000. 28.51% of the stock is owned by institutional investors.
Shares of Nordic American Tanker stock traded down $0.05 during trading hours on Tuesday, hitting $3.69. 5,354,301 shares of the company’s stock traded hands, compared to its average volume of 3,958,287. The company has a market cap of $543.68 million, a PE ratio of 6.25 and a beta of 0.42. Nordic American Tanker has a twelve month low of $1.77 and a twelve month high of $9.00. The stock has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $4.23. The company has a quick ratio of 1.65, a current ratio of 1.89 and a debt-to-equity ratio of 0.59.
About Nordic American Tanker
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.
Recommended Story: What is a growth and income fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nordic American Tanker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tanker and related companies with MarketBeat.com's FREE daily email newsletter.