Analysts forecast that Nordic American Tankers Limited (NYSE:NAT) will post sales of $49.95 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Nordic American Tankers Limited’s earnings. The lowest sales estimate is $44.00 million and the highest is $57.20 million. Nordic American Tankers Limited posted sales of $52.54 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.9%. The business is scheduled to report its next earnings results on Monday, February 5th.

According to Zacks, analysts expect that Nordic American Tankers Limited will report full year sales of $49.95 million for the current year, with estimates ranging from $162.60 million to $202.00 million. For the next year, analysts forecast that the firm will report sales of $236.30 million per share, with estimates ranging from $179.91 million to $279.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Nordic American Tankers Limited.

NAT has been the subject of a number of research analyst reports. TheStreet cut Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a report on Thursday, August 10th. Morgan Stanley lowered their target price on Nordic American Tankers Limited from $6.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Zacks Investment Research raised Nordic American Tankers Limited from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Maxim Group reaffirmed a “sell” rating on shares of Nordic American Tankers Limited in a research report on Monday, November 6th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $5.67.

A number of hedge funds have recently bought and sold shares of NAT. Principal Financial Group Inc. raised its position in shares of Nordic American Tankers Limited by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after acquiring an additional 4,454 shares in the last quarter. Aperio Group LLC raised its position in shares of Nordic American Tankers Limited by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after acquiring an additional 7,994 shares in the last quarter. Sigma Planning Corp raised its position in shares of Nordic American Tankers Limited by 44.2% during the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock worth $151,000 after acquiring an additional 7,318 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nordic American Tankers Limited during the 3rd quarter worth about $158,000. Finally, Airain ltd raised its position in shares of Nordic American Tankers Limited by 79.8% during the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock worth $175,000 after acquiring an additional 12,256 shares in the last quarter. 22.28% of the stock is currently owned by institutional investors.

Nordic American Tankers Limited (NYSE:NAT) opened at $4.06 on Wednesday. Nordic American Tankers Limited has a twelve month low of $4.00 and a twelve month high of $9.95. The company has a market capitalization of $420.02, a PE ratio of 103.00 and a beta of 0.90. The company has a current ratio of 4.69, a quick ratio of 3.87 and a debt-to-equity ratio of 0.52.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Monday, November 13th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, November 10th.

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About Nordic American Tankers Limited

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

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