Nordic American Tanker Ltd Forecasted to Earn FY2017 Earnings of ($0.59) Per Share (NAT)
Nordic American Tanker Ltd (NYSE:NAT) – Analysts at Jefferies Group issued their FY2017 earnings per share (EPS) estimates for Nordic American Tanker in a research report issued to clients and investors on Thursday. Jefferies Group analyst R. Giveans forecasts that the shipping company will post earnings per share of ($0.59) for the year. Jefferies Group has a “Hold” rating and a $3.00 price objective on the stock. Jefferies Group also issued estimates for Nordic American Tanker’s Q4 2017 earnings at ($0.07) EPS and FY2018 earnings at $0.31 EPS.
A number of other equities research analysts also recently weighed in on the company. Maxim Group dropped their price objective on Nordic American Tanker from $3.00 to $2.00 and set a “sell” rating on the stock in a research report on Thursday, December 14th. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, Morgan Stanley dropped their price objective on 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. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. Nordic American Tanker currently has an average rating of “Hold” and a consensus target price of $5.17.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Belpointe Asset Management LLC acquired a new stake in Nordic American Tanker in the third quarter worth about $241,000. Schwab Charles Investment Management Inc. boosted its holdings in Nordic American Tanker by 25.4% in 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 in the last quarter. Wells Fargo & Company MN boosted its holdings in Nordic American Tanker by 17.0% in 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 in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Nordic American Tanker in the third quarter worth about $158,000. Finally, Advisor Group Inc. boosted its holdings in Nordic American Tanker by 13.4% in 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 in the last quarter. 23.58% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Monday, November 13th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 4.71%. The ex-dividend date was Friday, November 10th.
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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.
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