ValuEngine cut shares of Teekay Tankers (NYSE:TNK) from a hold rating to a sell rating in a research report released on Thursday, ValuEngine reports.
Separately, Zacks Investment Research lowered shares of Teekay Tankers from a buy rating to a hold rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $1.13.
TNK stock traded down $0.06 during trading on Thursday, reaching $1.05. The stock had a trading volume of 58,691 shares, compared to its average volume of 1,123,209. Teekay Tankers has a one year low of $0.87 and a one year high of $1.42. The stock has a 50 day moving average price of $1.23. The stock has a market cap of $280.08 million, a P/E ratio of -5.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.03 and a quick ratio of 0.83.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $202.30 million for the quarter, compared to analysts’ expectations of $102.98 million. Teekay Tankers had a negative net margin of 0.92% and a negative return on equity of 0.16%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) EPS.
Several hedge funds have recently added to or reduced their stakes in TNK. BNP Paribas Arbitrage SA raised its stake in Teekay Tankers by 442.0% during the first quarter. BNP Paribas Arbitrage SA now owns 40,916 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 33,367 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Teekay Tankers by 75.2% in the 1st quarter. SG Americas Securities LLC now owns 64,778 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 27,804 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Teekay Tankers in the 2nd quarter valued at approximately $129,000. Quinn Opportunity Partners LLC purchased a new position in shares of Teekay Tankers in the 1st quarter valued at approximately $136,000. Finally, Chicago Equity Partners LLC purchased a new position in Teekay Tankers during the 2nd quarter worth approximately $182,000. 23.65% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Tankers Company Profile
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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