$47.85 Million in Sales Expected for Nordic American Tanker Ltd (NAT) This Quarter

Equities research analysts predict that Nordic American Tanker Ltd (NYSE:NAT) will post $47.85 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Nordic American Tanker’s earnings, with estimates ranging from $38.00 million to $57.20 million. Nordic American Tanker reported sales of $52.54 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.9%. The business is scheduled to report its next earnings results on Monday, February 5th.

According to Zacks, analysts expect that Nordic American Tanker will report full year sales of $47.85 million for the current financial year, with estimates ranging from $148.40 million to $195.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $212.14 million per share, with estimates ranging from $137.73 million to $277.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Nordic American Tanker.

Several brokerages have recently issued reports on NAT. Zacks Investment Research lowered shares of Nordic American Tanker from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Clarkson Capital upgraded shares of Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Maxim Group reiterated a “sell” rating on shares of Nordic American Tanker in a research report on Monday, November 6th. Jefferies Group upgraded shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price target on the stock in a research report on Thursday, December 14th. Finally, Morgan Stanley lowered their price target on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 8th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $4.86.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC acquired a new position in Nordic American Tanker during the third quarter worth about $241,000. Schwab Charles Investment Management Inc. boosted its position in Nordic American Tanker by 25.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 545,650 shares of the shipping company’s stock worth $2,914,000 after acquiring an additional 110,365 shares during the last quarter. Wells Fargo & Company MN boosted its position in Nordic American Tanker by 17.0% during the third quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock worth $3,040,000 after acquiring an additional 82,687 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Nordic American Tanker during the third quarter worth about $158,000. Finally, Advisor Group Inc. boosted its position in Nordic American Tanker by 13.4% during the third quarter. Advisor Group Inc. now owns 145,885 shares of the shipping company’s stock worth $778,000 after acquiring an additional 17,263 shares during the last quarter. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Shares of Nordic American Tanker (NYSE NAT) opened at $2.63 on Friday. Nordic American Tanker has a 52-week low of $2.45 and a 52-week high of $9.39. The stock has a market cap of $373.32, a PE ratio of -2.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71.

TRADEMARK VIOLATION NOTICE: This news story was posted by Stock Observer and is the sole property of of Stock Observer. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thestockobserver.com/2018/01/13/47-85-million-in-sales-expected-for-nordic-american-tanker-ltd-nat-this-quarter.html.

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.

Get a free copy of the Zacks research report on Nordic American Tanker (NAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Nordic American Tanker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tanker and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply