Teekay Tankers (TNK) to Release Quarterly Earnings on Thursday

Teekay Tankers (NYSE:TNK – Get Rating) is set to release its earnings data before the market opens on Thursday, May 12th. Analysts expect Teekay Tankers to post earnings of ($0.61) per share for the quarter.

Teekay Tankers (NYSE:TNK – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The shipping company reported ($0.74) earnings per share (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 for the quarter, compared to the consensus estimate of $64.78 million. During the same quarter last year, the business posted ($1.21) EPS. The business’s revenue was up 25.4% on a year-over-year basis. On average, analysts expect Teekay Tankers to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of TNK opened at $16.77 on Thursday. Teekay Tankers has a 1 year low of $9.89 and a 1 year high of $17.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.56. The company has a market cap of $565.82 million, a price-to-earnings ratio of -2.34 and a beta of -0.23. The firm has a fifty day moving average of $14.80 and a 200-day moving average of $12.87.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in Teekay Tankers by 48.2% during the 2nd quarter. Royal Bank of Canada now owns 4,282 shares of the shipping company’s stock worth $62,000 after acquiring an additional 1,392 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Teekay Tankers by 32.5% during the second quarter. Wells Fargo & Company MN now owns 4,997 shares of the shipping company’s stock valued at $72,000 after purchasing an additional 1,225 shares during the last quarter. Citigroup Inc. increased its stake in shares of Teekay Tankers by 70.2% in the 4th quarter. Citigroup Inc. now owns 10,775 shares of the shipping company’s stock valued at $117,000 after buying an additional 4,444 shares during the period. Bank of America Corp DE increased its stake in shares of Teekay Tankers by 19.3% in the 4th quarter. Bank of America Corp DE now owns 28,523 shares of the shipping company’s stock valued at $311,000 after buying an additional 4,612 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in Teekay Tankers by 128.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 33,524 shares of the shipping company’s stock worth $365,000 after purchasing an additional 18,832 shares during the last quarter. 28.74% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on TNK. Zacks Investment Research upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday. StockNews.com initiated coverage on Teekay Tankers in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Jefferies Financial Group began coverage on shares of Teekay Tankers in a research note on Wednesday, April 27th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Teekay Tankers has a consensus rating of “Buy” and a consensus target price of $20.00.

Teekay Tankers Company Profile (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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