Nordic American Tankers Ltd. (NYSE:NAT) – Investment analysts at Jefferies Group cut their Q3 2016 earnings per share (EPS) estimates for shares of Nordic American Tankers in a research note issued on Tuesday. Jefferies Group analyst D. Mavrinac now anticipates that the firm will post earnings of ($0.16) per share for the quarter, down from their previous estimate of ($0.13). Jefferies Group currently has a “Sell” rating on the stock.
Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same period last year, the company earned $0.35 EPS.
NAT has been the subject of a number of other research reports. Vetr upgraded shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating and set a $15.80 target price for the company in a research report on Wednesday, July 13th. Zacks Investment Research lowered shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $13.16.
Nordic American Tankers (NYSE:NAT) opened at 9.94 on Thursday. The firm has a 50-day moving average of $10.66 and a 200 day moving average of $13.32. The stock has a market capitalization of $887.83 million, a price-to-earnings ratio of 9.03 and a beta of 1.21. Nordic American Tankers has a 12-month low of $9.85 and a 12-month high of $17.02.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 10.06%. Nordic American Tankers’s payout ratio is 90.09%.
Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in 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 during the last quarter. Mission Wealth Management LLC bought a new stake in Nordic American Tankers during the second quarter worth about $139,000. Paloma Partners Management Co bought a new stake in Nordic American Tankers during the second quarter worth about $141,000. Stevens Capital Management LP bought a new stake in Nordic American Tankers during the second quarter worth about $142,000. Finally, BB&T Securities LLC bought a new stake in Nordic American Tankers during the second quarter worth about $144,000. Hedge funds and other institutional investors own 32.97% of the company’s stock.
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.
Receive News & Ratings for Nordic American Tankers Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.