Economy

Price Target Estimates for Nordic American Tankers Limited (NAT)

Wall Street analysts are predicting that Nordic American Tanker Shipping Ltd (NYSE:NAT) will report earnings per share of $-0.24 in their quarterly report.

Currently Nordic American Tanker Shipping Ltd (NYSE:NAT)'s shares owned by insiders are 1.9%, whereas shares owned by institutional owners are 24.7%. BlackRock Fund Advisors boosted its stake in Nordic American Tankers by 8.3% in the third quarter. Parametric Portfolio Associates LLC now owns 94,795 shares of the shipping company's stock worth $601,000 after acquiring an additional 38,631 shares in the last quarter. Wells Fargo & Company MN owned approximately 0.48% of Nordic American Tankers Limited worth $3,085,000 at the end of the most recent quarter.

These firms have modified their investment in NAT. Ubs Group Ag bolstered its stake by buying 345,121 shares an increase of 5,571.0% in the quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company's stock worth $2,760,000 after acquiring an additional 138,574 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Nordic American Tankers Limited by 37.9% during the second quarter.

Previously Nordic American Tanker Shipping Ltd (NYSE:NAT) reported $-0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $-0.15 by $-0.01. It helps investors in determining whether buying, selling or holding on to a stock would be beneficial for them.

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07/09/2014 - Canaccord Genuity began new coverage on Nordic American Tankers Limited giving the company a "sell" rating. If you are reading this story on another site, it was illegally stolen and reposted in violation of United States & global copyright and trademark legislation.

A number of other equities research analysts have also issued reports on the stock. The value of the investment in Nordic American Tankers Limited went from $8,000 to $7,000 a change of 12.5% for the reporting period. Maxim Group set a $5.00 price target on Nordic American Tankers Limited and gave the company a "sell" rating in a report on Saturday, July 22nd. Past 5 years growth of Nordic American Tanker Shipping Ltd (NYSE:NAT) observed at -86.13%, looking forward for the next 5 years it has a strong prediction of 5% over growth. The company presently has a consensus rating of "Hold" and a consensus target price of $6.42.

Shares are trading at $5.15 which is just a bit below $5.31, the 50 day moving average and which is quite a bit below the 200 day moving average of $6.18.

Clarkson Capital downgraded Nordic American Tankers from a "buy" rating to a "neutral" rating and decreased their price target for the company from $15.00 to $10.00 in a research note on Monday, October 3rd.

While considering growth estimates of the company, it has next quarter growth estimates of -50% whereas during current quarter it has -200% estimations over growth, comparing to the estimations of -225% during current year and 100% for next year. Nordic American Tankers Limited has a 52 week low of $4.41 and a 52 week high of $9.87. During the same period past year, the company earned $0.15 EPS. However the company reported $-0.08 earnings per share for the same quarter during a year ago.

In the last earnings report the EPS was $-0.67 and is projected to be $-0.45 for the current year with 101,969,000 shares now outstanding. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each.



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