Zacks: Analysts Anticipate Nordic American Offshore Ltd (NYSE:NAO) to Announce -$0.13 EPS
Brokerages expect Nordic American Offshore Ltd (NYSE:NAO) to post ($0.13) earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Nordic American Offshore’s earnings. Nordic American Offshore reported earnings per share of ($0.42) in the same quarter last year, which would suggest a positive year-over-year growth rate of 69%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 13th.
Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Nordic American Offshore.
Separately, Zacks Investment Research upgraded Nordic American Offshore from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a research note on Tuesday, April 25th.
Nordic American Offshore (NYSE NAO) traded up 1.68% on Monday, reaching $1.21. The company’s stock had a trading volume of 495,710 shares. The firm’s market capitalization is $27.28 million. Nordic American Offshore has a 52 week low of $0.80 and a 52 week high of $4.57. The stock’s 50 day moving average is $1.19 and its 200-day moving average is $1.39.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend is Tuesday, August 15th. Nordic American Offshore’s dividend payout ratio (DPR) is presently -6.35%.
A number of large investors have recently added to or reduced their stakes in NAO. Highland Capital Management LLC purchased a new stake in Nordic American Offshore during the second quarter worth $125,000. Shah Capital Management increased its stake in Nordic American Offshore by 42.7% in the second quarter. Shah Capital Management now owns 1,130,000 shares of the shipping company’s stock worth $1,412,000 after buying an additional 338,000 shares during the period. DnB Asset Management AS increased its stake in Nordic American Offshore by 3.8% in the second quarter. DnB Asset Management AS now owns 8,306,217 shares of the shipping company’s stock worth $10,383,000 after buying an additional 306,217 shares during the period. Mackenzie Financial Corp purchased a new stake in Nordic American Offshore during the first quarter worth $1,140,000. Finally, Laurion Capital Management LP purchased a new stake in Nordic American Offshore during the first quarter worth $1,587,000. 31.61% of the stock is currently owned by institutional investors and hedge funds.
Nordic American Offshore Company Profile
Nordic American Offshore Limited (NAO) operates platform supply vessels (PSV). The Company owns approximately eight vessels. The Company operates in the offshore support vessel market segment. The Company has approximately two vessels under construction. The Company’s vessels operate in the North Sea in both the term and spot market.
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