Nordic American Tanker Ltd (NYSE:NAT) – Stock analysts at Seaport Global Securities dropped their Q1 2018 earnings estimates for Nordic American Tanker in a research note issued on Monday. Seaport Global Securities analyst M. Fyhr now expects that the shipping company will post earnings per share of ($0.14) for the quarter, down from their prior forecast of ($0.09). Seaport Global Securities currently has a “Hold” rating and a $3.00 target price on the stock. Seaport Global Securities also issued estimates for Nordic American Tanker’s Q2 2018 earnings at ($0.13) EPS, Q3 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.46) EPS and Q4 2019 earnings at ($0.06) EPS.

Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings results on Monday, February 12th. The shipping company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). Nordic American Tanker had a negative net margin of 48.82% and a negative return on equity of 9.11%. The company had revenue of $36.72 million during the quarter, compared to analyst estimates of $45.46 million.

NAT has been the subject of a number of other reports. Maxim Group reissued a “sell” rating and issued a $1.00 price target on shares of Nordic American Tanker in a report on Monday. Clarkson Capital raised Nordic American Tanker from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Morgan Stanley reduced their target price on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating for the company in a research note on Monday. Finally, Jefferies Group raised Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 target price for the company in a research note on Thursday, December 14th. Five research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.36.

Nordic American Tanker (NYSE NAT) opened at $2.15 on Thursday. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $8.68. The company has a quick ratio of 2.71, a current ratio of 3.52 and a debt-to-equity ratio of 0.58.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Tuesday, February 20th. Nordic American Tanker’s payout ratio is -16.44%.

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in shares of Nordic American Tanker by 433.5% during the 4th quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock worth $206,000 after buying an additional 67,899 shares during the period. Millennium Management LLC increased its position in shares of Nordic American Tanker by 257.3% during the fourth quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock worth $246,000 after purchasing an additional 72,002 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Nordic American Tanker by 30.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,135,640 shares of the shipping company’s stock worth $2,792,000 after purchasing an additional 262,039 shares in the last quarter. Deutsche Bank AG increased its position in shares of Nordic American Tanker by 154.6% during the fourth quarter. Deutsche Bank AG now owns 237,990 shares of the shipping company’s stock worth $584,000 after purchasing an additional 144,517 shares in the last quarter. Finally, Quantitative Investment Management LLC increased its position in shares of Nordic American Tanker by 141.2% during the fourth quarter. Quantitative Investment Management LLC now owns 235,200 shares of the shipping company’s stock worth $578,000 after purchasing an additional 137,700 shares in the last quarter. 17.33% of the stock is owned by institutional investors and hedge funds.

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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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