Nordic American Tankers (NYSE:NAT) Announces Earnings Results, Beats Estimates By $0.01 EPS

Nordic American Tankers (NYSE:NAT) announced its quarterly earnings data on Thursday. The shipping company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01, Zacks reports. Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%.

Nordic American Tankers Stock Down 2.0%

NAT stock opened at $5.22 on Thursday. Nordic American Tankers has a 1-year low of $2.55 and a 1-year high of $6.34. The business has a fifty day moving average price of $5.68 and a 200-day moving average price of $4.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94. The stock has a market capitalization of $1.11 billion, a P/E ratio of 74.64 and a beta of -0.54.

Institutional Investors Weigh In On Nordic American Tankers

Several large investors have recently bought and sold shares of the business. Stokes Family Office LLC bought a new position in Nordic American Tankers during the 4th quarter valued at about $37,000. Parkside Financial Bank & Trust raised its holdings in shares of Nordic American Tankers by 2,800.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 10,500 shares during the last quarter. SmartHarvest Portfolios LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter valued at approximately $40,000. Cibc World Markets Corp bought a new position in Nordic American Tankers during the fourth quarter valued at approximately $47,000. Finally, BNP Paribas Financial Markets boosted its holdings in Nordic American Tankers by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 19,890 shares of the shipping company’s stock worth $52,000 after purchasing an additional 8,114 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore cut shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nordic American Tankers has a consensus rating of “Reduce” and an average target price of $4.00.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.