-$0.12 EPS Expected for Nordic American Tanker Ltd (NYSE:NAT) This Quarter
Wall Street brokerages expect Nordic American Tanker Ltd (NYSE:NAT) to announce earnings of ($0.12) per share for the current quarter, according to Zacks. Three analysts have made estimates for Nordic American Tanker’s earnings. The lowest EPS estimate is ($0.15) and the highest is ($0.10). Nordic American Tanker reported earnings of ($0.16) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The firm is expected to report its next earnings report before the market opens on Friday, August 16th.
Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last released its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $53.63 million for the quarter, compared to analysts’ expectations of $49.84 million. Nordic American Tanker had a negative return on equity of 7.43% and a negative net margin of 47.28%.
NAT stock traded down $0.08 during midday trading on Thursday, hitting $1.75. The company’s stock had a trading volume of 1,563,135 shares, compared to its average volume of 1,175,716. The stock has a market capitalization of $256.97 million, a P/E ratio of -2.87 and a beta of 0.62. Nordic American Tanker has a 12 month low of $1.75 and a 12 month high of $3.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.22 and a current ratio of 2.79. The business has a 50-day simple moving average of $2.12.
A number of institutional investors and hedge funds have recently made changes to their positions in NAT. Renaissance Technologies LLC raised its stake in Nordic American Tanker by 146.9% during the 2nd quarter. Renaissance Technologies LLC now owns 997,500 shares of the shipping company’s stock valued at $2,334,000 after buying an additional 593,500 shares during the last quarter. JPMorgan Chase & Co. increased its position in Nordic American Tanker by 306.3% in the second quarter. JPMorgan Chase & Co. now owns 768,521 shares of the shipping company’s stock worth $1,722,000 after purchasing an additional 579,347 shares during the period. D. E. Shaw & Co. Inc. increased its position in Nordic American Tanker by 396.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 304,050 shares of the shipping company’s stock worth $711,000 after purchasing an additional 242,759 shares during the period. BlackRock Inc. increased its position in Nordic American Tanker by 2.6% in the fourth quarter. BlackRock Inc. now owns 7,422,601 shares of the shipping company’s stock worth $14,845,000 after purchasing an additional 190,112 shares during the period. Finally, Morgan Stanley increased its position in Nordic American Tanker by 2.3% in the second quarter. Morgan Stanley now owns 5,318,977 shares of the shipping company’s stock worth $12,447,000 after purchasing an additional 121,784 shares during the period. Institutional investors and hedge funds own 22.90% of the company’s stock.
Nordic American Tanker Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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