Teekay Tankers Ltd. (NYSE:TNK) Receives $50.67 Average Price Target from Analysts

Teekay Tankers Ltd. (NYSE:TNK) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $50.6667.

TNK has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Teekay Tankers in a report on Saturday, September 27th. Zacks Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, July 31st.

Hedge Funds Weigh In On Teekay Tankers

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Teekay Tankers by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock worth $38,000 after buying an additional 394 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after buying an additional 568 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Teekay Tankers by 19.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock worth $71,000 after buying an additional 304 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Teekay Tankers by 85.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock worth $101,000 after buying an additional 1,123 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Teekay Tankers in the second quarter worth $129,000. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Shares of NYSE:TNK opened at $49.11 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of 6.10 and a beta of -0.07. The firm’s fifty day moving average is $49.10 and its 200-day moving average is $44.90. Teekay Tankers has a 52 week low of $33.35 and a 52 week high of $61.95.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). The business had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same quarter last year, the firm posted $3.11 EPS. Sell-side analysts forecast that Teekay Tankers will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 11th. Teekay Tankers’s dividend payout ratio (DPR) is currently 12.42%.

Teekay Tankers Company Profile

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.