Analysts Expect Teekay Tankers Ltd. (NYSE:TNK) Will Announce Quarterly Sales of $111.72 Million

Brokerages expect Teekay Tankers Ltd. (NYSE:TNKGet Rating) to post $111.72 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Teekay Tankers’ earnings. The highest sales estimate is $115.24 million and the lowest is $108.20 million. Teekay Tankers posted sales of $51.65 million in the same quarter last year, which suggests a positive year over year growth rate of 116.3%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Teekay Tankers will report full year sales of $382.88 million for the current year, with estimates ranging from $380.05 million to $385.70 million. For the next year, analysts anticipate that the business will report sales of $407.35 million, with estimates ranging from $374.99 million to $439.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Teekay Tankers.

Teekay Tankers (NYSE:TNKGet Rating) last released its quarterly earnings results on Thursday, May 12th. The shipping company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.20. Teekay Tankers had a negative net margin of 40.96% and a negative return on equity of 15.05%. The business had revenue of $174.00 million for the quarter, compared to analyst estimates of $61.06 million. During the same period last year, the firm earned ($0.65) earnings per share. Teekay Tankers’s revenue for the quarter was up 21.8% compared to the same quarter last year.

Several equities analysts have commented on TNK shares. Zacks Investment Research lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday. StockNews.com initiated coverage on shares of Teekay Tankers in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Teekay Tankers in a research note on Wednesday, April 27th. They issued a “buy” rating on the stock.

Several institutional investors and hedge funds have recently bought and sold shares of TNK. Wilen Investment Management CORP. acquired a new stake in shares of Teekay Tankers in the 3rd quarter valued at approximately $44,000. Royal Bank of Canada boosted its stake in shares of Teekay Tankers by 48.2% in the 2nd quarter. Royal Bank of Canada now owns 4,282 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 1,392 shares in the last quarter. Wells Fargo & Company MN boosted its position in Teekay Tankers by 32.5% during the 2nd quarter. Wells Fargo & Company MN now owns 4,997 shares of the shipping company’s stock worth $72,000 after buying an additional 1,225 shares during the period. Citigroup Inc. boosted its position in Teekay Tankers by 457.8% during the 3rd quarter. Citigroup Inc. now owns 6,331 shares of the shipping company’s stock worth $92,000 after buying an additional 5,196 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in Teekay Tankers during the 1st quarter worth approximately $159,000. Institutional investors own 28.74% of the company’s stock.

TNK stock opened at $19.05 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Teekay Tankers has a 12 month low of $9.89 and a 12 month high of $19.44. The firm has a market cap of $642.71 million, a P/E ratio of -2.69 and a beta of -0.23. The company’s 50-day moving average price is $15.30 and its two-hundred day moving average price is $13.08.

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.

Recommended Stories

Get a free copy of the Zacks research report on Teekay Tankers (TNK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.