Analysts expect Teekay Tankers Ltd. (NYSE:TNK) to post earnings of ($0.06) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Teekay Tankers’ earnings, with estimates ranging from ($0.12) to ($0.01). Teekay Tankers posted earnings of $0.04 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 250%. The firm is scheduled to issue its next quarterly earnings results on Thursday, May 17th.
According to Zacks, analysts expect that Teekay Tankers will report full year earnings of ($0.18) per share for the current financial year, with EPS estimates ranging from ($0.52) to ($0.04). For the next financial year, analysts anticipate that the company will post earnings of $0.06 per share, with EPS estimates ranging from ($0.22) to $0.30. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Teekay Tankers.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, February 22nd. The shipping company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Teekay Tankers had a negative return on equity of 2.16% and a negative net margin of 13.78%. The firm had revenue of $105.20 million for the quarter, compared to the consensus estimate of $87.10 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year.
A number of analysts have recently commented on TNK shares. DNB Markets upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. Seaport Global Securities set a $3.00 target price on Teekay Tankers and gave the stock a “buy” rating in a research note on Thursday, January 4th. Morgan Stanley lowered their target price on Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, UBS upgraded Teekay Tankers from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $1.26 to $1.00 in a research note on Monday, February 26th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $1.72.
Shares of TNK opened at $1.08 on Thursday. Teekay Tankers has a 52 week low of $1.08 and a 52 week high of $2.20. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $197.12, a PE ratio of -9.82 and a beta of 2.02.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Monday, March 5th were given a dividend of $0.03 per share. The ex-dividend date was Friday, March 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 11.11%. Teekay Tankers’s dividend payout ratio is currently -109.09%.
A number of hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new position in Teekay Tankers during the fourth quarter worth approximately $141,000. Teachers Advisors LLC boosted its position in Teekay Tankers by 45.6% during the fourth quarter. Teachers Advisors LLC now owns 334,274 shares of the shipping company’s stock worth $468,000 after purchasing an additional 104,697 shares in the last quarter. California State Teachers Retirement System boosted its position in Teekay Tankers by 59.8% during the fourth quarter. California State Teachers Retirement System now owns 320,529 shares of the shipping company’s stock worth $449,000 after purchasing an additional 120,000 shares in the last quarter. Mangrove Partners purchased a new position in Teekay Tankers during the fourth quarter worth approximately $133,000. Finally, Deutsche Bank AG boosted its position in Teekay Tankers by 373.6% during the fourth quarter. Deutsche Bank AG now owns 561,377 shares of the shipping company’s stock worth $784,000 after purchasing an additional 442,843 shares in the last quarter. Institutional investors own 47.63% of the company’s stock.
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About Teekay Tankers
Teekay Tankers Ltd. engages in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. The company also provides ship-to-ship transfer services, including lightering and lightering support, consultancy, and LNG terminal management services.
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