Teekay Tankers Ltd. (NYSE:TNK) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $1.10.
TNK has been the subject of a number of recent analyst reports. DNB Markets raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Wells Fargo & Co lowered Teekay Tankers from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 10th. ValuEngine upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. JPMorgan Chase & Co. cut Teekay Tankers from a “neutral” rating to an “underweight” rating and set a $1.00 target price on the stock. in a report on Friday, February 22nd. Finally, Zacks Investment Research cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Thursday, December 20th.
Shares of TNK traded down $0.03 during midday trading on Wednesday, hitting $0.97. 3,155 shares of the stock traded hands, compared to its average volume of 1,505,382. Teekay Tankers has a 1-year low of $0.87 and a 1-year high of $1.36. The company has a market cap of $265.85 million, a price-to-earnings ratio of -4.87, a price-to-earnings-growth ratio of 23.33 and a beta of 1.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.99 and a current ratio of 1.14.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $129.10 million for the quarter, compared to analysts’ expectations of $116.66 million. Teekay Tankers had a negative net margin of 6.95% and a negative return on equity of 5.74%. Teekay Tankers’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. Analysts predict that Teekay Tankers will post 0.01 EPS for the current year.
A number of institutional investors have recently made changes to their positions in TNK. SG Americas Securities LLC raised its position in Teekay Tankers by 92.6% in the 4th quarter. SG Americas Securities LLC now owns 36,974 shares of the shipping company’s stock valued at $34,000 after buying an additional 17,779 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth approximately $42,000. Essex Financial Services Inc. increased its position in shares of Teekay Tankers by 954.5% during the 4th quarter. Essex Financial Services Inc. now owns 116,000 shares of the shipping company’s stock worth $108,000 after purchasing an additional 105,000 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Teekay Tankers during the 3rd quarter worth approximately $134,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth approximately $240,000. 24.68% of the stock is currently owned by institutional investors and hedge funds.
Teekay Tankers Company Profile
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
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