Nordic American Tanker Ltd (NYSE:NAT) – Research analysts at Seaport Global Securities raised their FY2017 EPS estimates for shares of Nordic American Tanker in a note issued to investors on Thursday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings per share of ($0.63) for the year, up from their prior forecast of ($0.64). Seaport Global Securities also issued estimates for Nordic American Tanker’s Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.03 EPS and FY2018 earnings at $0.12 EPS.

Other equities research analysts also recently issued reports about the company. Morgan Stanley cut their price target on Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Jefferies Group upgraded Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price objective for the company in a research note on Thursday, December 14th. Zacks Investment Research upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Maxim Group cut their price objective on Nordic American Tanker from $3.00 to $2.00 and set a “sell” rating for the company in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.17.

Shares of Nordic American Tanker (NYSE NAT) opened at $2.59 on Monday. Nordic American Tanker has a twelve month low of $2.57 and a twelve month high of $9.39. The company has a market capitalization of $276.28, a PE ratio of 67.75 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 3.87.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp increased its position in shares of Nordic American Tanker by 40.4% during the 2nd quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after purchasing an additional 659,827 shares during the last quarter. State Street Corp grew its position in Nordic American Tanker by 6.9% in the 2nd quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after acquiring an additional 114,052 shares during the last quarter. Wells Fargo & Company MN grew its position in Nordic American Tanker by 17.0% in the 3rd quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock valued at $3,040,000 after acquiring an additional 82,687 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Nordic American Tanker by 25.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 545,650 shares of the shipping company’s stock valued at $2,914,000 after acquiring an additional 110,365 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Nordic American Tanker by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 411,778 shares of the shipping company’s stock valued at $2,611,000 after acquiring an additional 3,425 shares during the last quarter. 23.68% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 13th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.12 dividend on an annualized basis and a yield of 4.63%.

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Nordic American Tanker Company Profile

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.

Earnings History and Estimates for Nordic American Tanker (NYSE:NAT)

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