Seaport Global Securities Analysts Cut Earnings Estimates for Nordic American Tanker Ltd (NAT)

Nordic American Tanker Ltd (NYSE:NAT) – Analysts at Seaport Global Securities lowered their Q1 2018 earnings estimates for Nordic American Tanker in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Fyhr now expects that the shipping company will earn ($0.14) per share for the quarter, down from their previous forecast of ($0.09). Seaport Global Securities has a “Hold” rating and a $3.00 price objective on the stock. Seaport Global Securities also issued estimates for Nordic American Tanker’s Q2 2018 earnings at ($0.13) EPS, Q3 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.46) EPS and Q4 2019 earnings at ($0.06) EPS.

Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings results on Monday, February 12th. The shipping company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $36.72 million during the quarter, compared to analyst estimates of $45.46 million. Nordic American Tanker had a negative net margin of 48.82% and a negative return on equity of 9.11%.

Other analysts have also issued research reports about the stock. Clarkson Capital raised shares of Nordic American Tanker from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Morgan Stanley lowered their target price on shares of Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating for the company in a report on Monday. Zacks Investment Research raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Jefferies Group raised shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 target price for the company in a report on Thursday, December 14th. Finally, Credit Suisse Group lowered their target price on shares of Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday. Five research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $3.36.

Shares of Nordic American Tanker (NYSE NAT) opened at $2.15 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.71 and a current ratio of 3.52. Nordic American Tanker has a fifty-two week low of $1.82 and a fifty-two week high of $8.68.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in Nordic American Tanker by 46.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company’s stock worth $2,760,000 after acquiring an additional 138,574 shares during the period. Wells Fargo & Company MN boosted its position in shares of Nordic American Tanker by 19.0% during the second quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock worth $3,085,000 after purchasing an additional 77,822 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Nordic American Tanker by 73.2% during the third quarter. Canada Pension Plan Investment Board now owns 80,367 shares of the shipping company’s stock worth $429,000 after purchasing an additional 33,967 shares in the last quarter. Greylin Investment Mangement Inc. boosted its position in shares of Nordic American Tanker by 40.6% during the fourth quarter. Greylin Investment Mangement Inc. now owns 727,750 shares of the shipping company’s stock worth $1,790,000 after purchasing an additional 210,225 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Nordic American Tanker during the second quarter worth $479,000. 17.33% of the stock is owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Tuesday, February 20th. Nordic American Tanker’s dividend payout ratio is presently -16.44%.

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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.

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