Seaport Global Securities Equities Analysts Reduce Earnings Estimates for Nordic American Tankers Ltd. (NAT)
Nordic American Tankers Ltd. (NYSE:NAT) – Equities researchers at Seaport Global Securities dropped their Q3 2016 earnings estimates for Nordic American Tankers in a research note issued on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will post earnings per share of ($0.12) for the quarter, down from their prior forecast of ($0.10). Seaport Global Securities also issued estimates for Nordic American Tankers’ FY2017 earnings at $0.40 EPS.
Several other research analysts have also recently weighed in on NAT. Vetr upgraded Nordic American Tankers from a “sell” rating to a “hold” rating and set a $14.14 price target for the company in a research report on Wednesday, June 15th. Zacks Investment Research cut Nordic American Tankers from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. ABN Amro cut Nordic American Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Jefferies Group set a $8.00 price objective on Nordic American Tankers and gave the company an “underperform” rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $9.00 price objective (down from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.63.
Nordic American Tankers (NYSE:NAT) traded down 1.30% on Thursday, reaching $9.13. The company’s stock had a trading volume of 1,325,735 shares. Nordic American Tankers has a 12-month low of $8.94 and a 12-month high of $16.68. The firm has a 50-day moving average of $10.27 and a 200 day moving average of $13.03. The company has a market capitalization of $815.48 million, a price-to-earnings ratio of 8.30 and a beta of 1.05.
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Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Nordic American Tankers had a return on equity of 11.28% and a net margin of 34.79%. During the same period in the prior year, the business posted $0.35 earnings per share.
Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Nordic American Tankers by 95.5% in the first quarter. IFP Advisors Inc now owns 7,094 shares of the company’s stock worth $100,000 after buying an additional 3,465 shares in the last quarter. Mission Wealth Management LLC purchased a new stake in shares of Nordic American Tankers during the second quarter worth about $139,000. Paloma Partners Management Co purchased a new stake in shares of Nordic American Tankers during the second quarter worth about $141,000. Stevens Capital Management LP purchased a new stake in shares of Nordic American Tankers during the second quarter worth about $142,000. Finally, BB&T Securities LLC purchased a new stake in shares of Nordic American Tankers during the second quarter worth about $144,000. 29.31% of the stock is currently owned by hedge funds and other institutional investors.
Nordic American Tankers Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.
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