Nordic American Tanker (NAT) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Nordic American Tanker (NYSE:NAT) posted its quarterly earnings data on Monday. The shipping company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03), Morningstar.com reports. Nordic American Tanker had a negative return on equity of 6.49% and a negative net margin of 32.51%.

Shares of Nordic American Tanker (NYSE NAT) traded up $0.22 during midday trading on Monday, reaching $2.19. 2,476,329 shares of the company’s stock were exchanged, compared to its average volume of 2,047,102. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $8.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71. The company has a market capitalization of $292.41, a PE ratio of -2.40 and a beta of 0.81.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Tuesday, February 20th. Nordic American Tanker’s payout ratio is currently -13.19%.

Several research firms recently weighed in on NAT. Maxim Group restated a “sell” rating and issued a $1.00 price objective on shares of Nordic American Tanker in a research report on Monday. Morgan Stanley decreased their price objective on shares of Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Monday. Clarkson Capital upgraded shares of Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Zacks Investment Research cut shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Seaport Global Securities set a $3.00 price objective on shares of Nordic American Tanker and gave the stock a “hold” rating in a research report on Friday, January 5th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $3.58.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Nordic American Tanker by 1.4% during the fourth quarter. BlackRock Inc. now owns 4,536,032 shares of the shipping company’s stock valued at $11,159,000 after acquiring an additional 64,705 shares during the last quarter. Key Square Capital Management LLC bought a new position in Nordic American Tanker during the fourth quarter valued at approximately $5,768,000. Northern Trust Corp grew its position in Nordic American Tanker by 40.4% during the second quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after acquiring an additional 659,827 shares during the last quarter. State Street Corp grew its position in Nordic American Tanker by 6.9% during the second quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after acquiring an additional 114,052 shares during the last quarter. Finally, WealthTrust Axiom LLC grew its position in Nordic American Tanker by 20.8% during the fourth quarter. WealthTrust Axiom LLC now owns 784,589 shares of the shipping company’s stock valued at $1,930,000 after acquiring an additional 134,898 shares during the last quarter. Institutional investors and hedge funds own 17.33% of the company’s stock.

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About Nordic American Tanker

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.

Earnings History for Nordic American Tanker (NYSE:NAT)

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