Teekay Tankers (NYSE:TNK) Shares Gap Down to $18.85

Shares of Teekay Tankers Ltd. (NYSE:TNK – Get Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $18.85, but opened at $17.80. Teekay Tankers shares last traded at $18.20, with a volume of 919 shares traded.

A number of research firms have commented on TNK. StockNews.com began coverage on shares of Teekay Tankers in a research report on Thursday, March 31st. They set a “sell” rating for the company. Jefferies Financial Group began coverage on shares of Teekay Tankers in a research report on Wednesday, April 27th. They set a “buy” rating for the company. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Teekay Tankers in a research report on Tuesday, June 14th.

The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market cap of $572.87 million, a price-to-earnings ratio of -2.44, a P/E/G ratio of 17.95 and a beta of -0.25. The stock has a fifty day moving average price of $18.27 and a two-hundred day moving average price of $14.41.

Teekay Tankers (NYSE:TNK – Get Rating) last posted its earnings results on Thursday, May 12th. The shipping company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.20. Teekay Tankers had a negative return on equity of 15.05% and a negative net margin of 40.96%. The company had revenue of $174.00 million during the quarter, compared to the consensus estimate of $61.06 million. During the same quarter last year, the firm earned ($0.65) earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Analysts predict that Teekay Tankers Ltd. will post 0.35 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in shares of Teekay Tankers during the first quarter worth $159,000. PDT Partners LLC acquired a new position in Teekay Tankers in the first quarter valued at about $185,000. Goldman Sachs Group Inc. acquired a new position in Teekay Tankers in the first quarter valued at about $198,000. The Manufacturers Life Insurance Company raised its stake in Teekay Tankers by 8.7% in the third quarter. The Manufacturers Life Insurance Company now owns 14,766 shares of the shipping company’s stock valued at $215,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Teekay Tankers in the first quarter valued at about $238,000. 28.74% of the stock is owned by institutional investors.

Teekay Tankers Company Profile (NYSE:TNK)

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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