Teekay Tankers (TNK) to Release Earnings on Thursday

Teekay Tankers (NYSE:TNK) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Teekay Tankers to post earnings of $3.69 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The business had revenue of $194.46 million during the quarter, compared to analysts’ expectations of $219.93 million. On average, analysts expect Teekay Tankers to post $14 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Teekay Tankers Price Performance

TNK stock opened at $60.71 on Wednesday. The business has a 50 day moving average price of $56.97 and a 200 day moving average price of $54.66. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 4.09, a PEG ratio of 1.41 and a beta of -0.27. Teekay Tankers has a fifty-two week low of $35.00 and a fifty-two week high of $64.42.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. Teekay Tankers’s dividend payout ratio is presently 6.73%.

Analyst Ratings Changes

TNK has been the topic of several research analyst reports. Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $72.00 in a research note on Friday, January 19th. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price on shares of Teekay Tankers in a research report on Thursday, February 22nd. StockNews.com raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Evercore ISI cut their price target on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd.

About Teekay Tankers

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.