Analysts expect Teekay Tankers Ltd. (NYSE:TNK) to post $89.87 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Teekay Tankers’ earnings. The highest sales estimate is $91.97 million and the lowest is $87.10 million. Teekay Tankers posted sales of $125.10 million during the same quarter last year, which suggests a negative year over year growth rate of 28.2%. The company is expected to issue its next quarterly earnings results on Thursday, May 17th.
According to Zacks, analysts expect that Teekay Tankers will report full-year sales of $89.87 million for the current year, with estimates ranging from $370.95 million to $446.70 million. For the next fiscal year, analysts expect that the firm will report sales of $444.37 million per share, with estimates ranging from $363.72 million to $503.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Teekay Tankers.
Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Thursday, February 22nd. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. Teekay Tankers had a negative net margin of 13.78% and a negative return on equity of 2.16%. The firm had revenue of $105.20 million during the quarter, compared to analyst estimates of $87.10 million. During the same quarter last year, the business earned $0.03 EPS. The company’s revenue was down 14.6% compared to the same quarter last year.
TNK has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday. Seaport Global Securities set a $3.00 price objective on shares of Teekay Tankers and gave the company a “buy” rating in a research note on Thursday, January 4th. ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. DNB Markets upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America lowered their price objective on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research note on Friday, November 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $1.72.
Teekay Tankers (NYSE TNK) traded up $0.01 during trading on Friday, reaching $1.17. 737,125 shares of the company’s stock traded hands, compared to its average volume of 1,320,805. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 0.92. Teekay Tankers has a 52-week low of $1.08 and a 52-week high of $2.29. The company has a market cap of $215.04, a price-to-earnings ratio of -3.55 and a beta of 2.18.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Monday, March 5th will be paid a $0.03 dividend. The ex-dividend date is Friday, March 2nd. This represents a $0.12 annualized dividend and a dividend yield of 10.26%. Teekay Tankers’s dividend payout ratio is currently -36.36%.
Several large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its stake in shares of Teekay Tankers by 10.4% in the 2nd quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 7,500 shares in the last quarter. Wells Fargo & Company MN increased its stake in Teekay Tankers by 4.1% during the 2nd quarter. Wells Fargo & Company MN now owns 237,561 shares of the shipping company’s stock valued at $446,000 after purchasing an additional 9,272 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Teekay Tankers by 21.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 9,526 shares in the last quarter. Teachers Advisors LLC increased its stake in Teekay Tankers by 5.7% during the 2nd quarter. Teachers Advisors LLC now owns 229,577 shares of the shipping company’s stock valued at $432,000 after purchasing an additional 12,377 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Teekay Tankers by 26.3% during the 2nd quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 13,167 shares in the last quarter. Institutional investors own 47.67% of the company’s stock.
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About Teekay Tankers
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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