Jefferies Financial Group Comments on Teekay Tankers Ltd.’s Q4 2022 Earnings (NYSE:TNK)

Teekay Tankers Ltd. (NYSE:TNKGet Rating) – Stock analysts at Jefferies Financial Group boosted their Q4 2022 earnings estimates for Teekay Tankers in a research report issued to clients and investors on Wednesday, April 27th. Jefferies Financial Group analyst R. Giveans now forecasts that the shipping company will post earnings of $0.36 per share for the quarter, up from their previous estimate of $0.35. Jefferies Financial Group has a “Buy” rating on the stock.

TNK has been the subject of a number of other reports. Zacks Investment Research cut Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday. StockNews.com initiated coverage on shares of Teekay Tankers in a research report on Thursday, March 31st. They set a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.00.

NYSE TNK opened at $16.47 on Friday. The company has a fifty day moving average of $14.44 and a two-hundred day moving average of $12.81. The company has a market capitalization of $555.66 million, a PE ratio of -2.30 and a beta of -0.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.25. Teekay Tankers has a 1 year low of $9.89 and a 1 year high of $17.63.

Teekay Tankers (NYSE:TNKGet Rating) last released its quarterly earnings results on Thursday, February 24th. The shipping company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.10. Teekay Tankers had a negative return on equity of 14.97% and a negative net margin of 44.69%. The business had revenue of $160.30 million during the quarter, compared to analyst estimates of $64.78 million. During the same period last year, the business posted ($1.21) earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in TNK. Royal Bank of Canada lifted its holdings in Teekay Tankers by 48.2% in the second quarter. Royal Bank of Canada now owns 4,282 shares of the shipping company’s stock worth $62,000 after purchasing an additional 1,392 shares during the period. Bank of America Corp DE lifted its position in Teekay Tankers by 8.6% in the 2nd quarter. Bank of America Corp DE now owns 24,667 shares of the shipping company’s stock worth $356,000 after buying an additional 1,943 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Teekay Tankers by 32.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,997 shares of the shipping company’s stock valued at $72,000 after buying an additional 1,225 shares in the last quarter. Morgan Stanley increased its position in Teekay Tankers by 120.4% during the second quarter. Morgan Stanley now owns 243,335 shares of the shipping company’s stock worth $3,508,000 after buying an additional 132,910 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Teekay Tankers in the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 28.74% of the company’s stock.

About Teekay Tankers (Get Rating)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore Ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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