Equities research analysts expect that Nordic American Tankers Limited (NYSE:NAT) will announce sales of $40.67 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Nordic American Tankers Limited’s earnings, with estimates ranging from $37.64 million to $45.28 million. Nordic American Tankers Limited reported sales of $5.07 million during the same quarter last year, which indicates a positive year-over-year growth rate of 702.2%. The firm is expected to issue its next quarterly earnings results on Monday, August 21st.

On average, analysts expect that Nordic American Tankers Limited will report full year sales of $40.67 million for the current fiscal year, with estimates ranging from $174.91 million to $219.00 million. For the next fiscal year, analysts expect that the business will post sales of $262.10 million per share, with estimates ranging from $223.90 million to $283.22 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Nordic American Tankers Limited.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.03. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $42.47 million. During the same period in the prior year, the company posted $0.15 earnings per share. The firm’s revenue was down 29.2% compared to the same quarter last year.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Nordic American Tankers Limited from a “strong sell” rating to a “hold” rating in a research note on Wednesday. TheStreet lowered Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a research note on Thursday, August 10th. Maxim Group set a $4.00 price objective on Nordic American Tankers Limited and gave the company a “sell” rating in a research note on Monday, August 7th. BidaskClub lowered Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Evercore ISI lowered Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and dropped their price target for the stock from $6.00 to $5.00 in a research note on Friday, July 21st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. Nordic American Tankers Limited currently has a consensus rating of “Hold” and a consensus price target of $6.93.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAT. Principal Financial Group Inc. increased its position in Nordic American Tankers Limited by 37.9% in the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Nordic American Tankers Limited during the first quarter valued at approximately $106,000. Northstar Wealth Partners LLC bought a new position in Nordic American Tankers Limited during the first quarter valued at approximately $110,000. Karp Capital Management Corp bought a new position in Nordic American Tankers Limited during the first quarter valued at approximately $118,000. Finally, Airain ltd bought a new position in Nordic American Tankers Limited during the first quarter valued at approximately $126,000. Hedge funds and other institutional investors own 27.18% of the company’s stock.

Nordic American Tankers Limited (NYSE:NAT) traded down 2.35% during midday trading on Friday, hitting $4.99. The stock had a trading volume of 2,538,090 shares. The firm’s market capitalization is $508.83 million. The firm has a 50-day moving average price of $5.83 and a 200-day moving average price of $7.06. Nordic American Tankers Limited has a 1-year low of $4.70 and a 1-year high of $11.02.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 14th will be issued a $0.15 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.60 annualized dividend and a dividend yield of 12.02%. Nordic American Tankers Limited’s dividend payout ratio is currently 2,000.00%.

About Nordic American Tankers Limited

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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Earnings History and Estimates for Nordic American Tankers Limited (NYSE:NAT)

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