Revenue Update on Nordic American Tanker Ltd(NYSE:NAT)

Nordic American Tanker Ltd(NYSE:NAT) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 6, 2017. Company reported revenue of $52.542M. Analysts estimated a revenue of $53.910M. The revenues were -2.54% below the estimates. Earnings per share were $-0.02. The reported EPS was below estimates by -200%. Analysts had estimated an EPS of $0.02.

In a different note, Maxim Group said it Initiates Coverage On Nordic American Tanker Ltd, according to a research note issued on Dec 20, 2016. In the research note, the firm Announces the price-target to $7 per share. The shares have been rated ‘Sell’ by the firm.

Nordic American Tanker Ltd (NAT) shares turned negative on Tuesdays trading session with the shares closing down -0.09 points or -1.04% at a volume of 14,86,393. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.82. The peak price level was also seen at $8.82 while the days lowest was $8.58. Finally the shares closed at $8.59. The 52-week high of the shares is $16.18 while the 52-week low is $7.57. According to the latest information available, the market cap of the company is $876 M.

Nordic American Tankers Limited (NAT) is an international tanker company. The Company owns approximately 24 Suezmax crude oil tankers two of which are newbuildings averaging approximately 156000 deadweight tonnage (dwt) each. The Company’s subsidiaries include Scandic American Shipping Ltd. (Scandic) and Orion Tankers Ltd (Orion). The Company’s Suezmax tankers are interchangeable assets within the Orion Tankers pool. NAT’s vessels include Nordic Harrier Nordic Hawk Nordic Hunter Nordic Voyager Nordic Fighter Nordic Freedom Nordic Discovery Nordic Saturn Nordic Jupiter Nordic Moon Nordic Apollo Nordic Vega Nordic Breeze Nordic Aurora Nordic Zenith and Nordic Sprinter. The Company’s vessels were built in the yards of various companies such as Samsung Heavy Industries Co. Ltd Hyundai Heavy Industries Co. Ltd. Daewoo Shipbuilding and Marine Engineering S.A. Dalian Shipbuilding Industry Co. Ltd. and Bohai Shipbuilding Heavy Industry Co. Ltd.

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