Nordic American Tankers Ltd. (NYSE:NAT) – Equities researchers at Seaport Global Securities cut their Q3 2016 earnings estimates for Nordic American Tankers in a report released on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the brokerage will post earnings per share of ($0.12) for the quarter, down from their previous forecast of ($0.10). Seaport Global Securities also issued estimates for Nordic American Tankers’ FY2017 earnings at $0.40 EPS.
Nordic American Tankers (NYSE:NAT) last issued its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Nordic American Tankers had a return on equity of 11.28% and a net margin of 34.79%. During the same period in the previous year, the company earned $0.35 earnings per share.
Several other research analysts have also weighed in on NAT. Vetr raised Nordic American Tankers from a “buy” rating to a “strong-buy” rating and set a $15.80 price target on the stock in a research report on Wednesday, July 13th. Zacks Investment Research raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Jefferies Group reissued a “sell” rating on shares of Nordic American Tankers in a report on Tuesday, September 6th. Morgan Stanley reissued an “equal weight” rating and set a $9.00 target price (down from $12.00) on shares of Nordic American Tankers in a report on Friday, August 26th. Finally, ABN Amro lowered Nordic American Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.63.
Nordic American Tankers (NYSE:NAT) opened at 9.10 on Thursday. The firm has a market capitalization of $812.80 million, a price-to-earnings ratio of 8.27 and a beta of 1.05. The firm’s 50-day moving average price is $10.23 and its 200 day moving average price is $13.00. Nordic American Tankers has a 1-year low of $8.94 and a 1-year high of $16.68.
A number of hedge funds have recently added to or reduced their stakes in NAT. 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 valued at $100,000 after buying an additional 3,465 shares during the period. MSI Financial Services Inc increased its stake in Nordic American Tankers by 1.3% in the third quarter. MSI Financial Services Inc now owns 10,530 shares of the company’s stock valued at $106,000 after buying an additional 134 shares during the period. Mission Wealth Management LLC purchased a new stake in Nordic American Tankers during the second quarter valued at about $139,000. Paloma Partners Management Co purchased a new stake in Nordic American Tankers during the second quarter valued at about $141,000. Finally, Stevens Capital Management LP purchased a new stake in Nordic American Tankers during the second quarter valued at about $142,000. Institutional investors and hedge funds own 29.31% 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.
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