FY2017 Earnings Forecast for Nordic American Tankers Limited (NAT) Issued By Seaport Global Securities

Nordic American Tankers Limited (NYSE:NAT) – Seaport Global Securities reduced their FY2017 earnings estimates for Nordic American Tankers Limited in a research note issued on Monday. Seaport Global Securities analyst M. Fyhr now expects that the shipping company will earn ($0.64) per share for the year, down from their previous forecast of ($0.43). Seaport Global Securities also issued estimates for Nordic American Tankers Limited’s Q4 2017 earnings at ($0.14) EPS.

A number of other analysts have also recently commented on NAT. Jefferies Group LLC reiterated a “sell” rating and set a $5.00 target price on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Zacks Investment Research cut Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Evercore ISI cut Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and cut their target price for the stock from $6.00 to $5.00 in a research report on Friday, July 21st. Maxim Group set a $5.00 target price on Nordic American Tankers Limited and gave the stock a “sell” rating in a research report on Saturday, July 22nd. Finally, BidaskClub cut Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Five analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.67.

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Shares of Nordic American Tankers Limited (NYSE NAT) opened at $4.23 on Thursday. Nordic American Tankers Limited has a 52 week low of $4.09 and a 52 week high of $9.95. The company has a quick ratio of 3.87, a current ratio of 4.69 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $436.08, a price-to-earnings ratio of 106.94 and a beta of 0.90.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in shares of Nordic American Tankers Limited by 17.0% during the third quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock worth $3,040,000 after buying an additional 82,687 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nordic American Tankers Limited during the third quarter worth about $158,000. Advisor Group Inc. grew its holdings in shares of Nordic American Tankers Limited by 13.4% during the third quarter. Advisor Group Inc. now owns 145,885 shares of the shipping company’s stock worth $778,000 after buying an additional 17,263 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Nordic American Tankers Limited during the third quarter worth about $886,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Nordic American Tankers Limited during the third quarter worth about $887,000. Institutional investors and hedge funds own 23.59% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Monday, November 13th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, November 10th.

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.

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

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