Teekay Tankers Ltd. (NYSE:TNK) – Stock analysts at Seaport Global Securities cut their Q1 2017 earnings per share estimates for Teekay Tankers in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will earn $0.18 per share for the quarter, down from their previous estimate of $0.23. Seaport Global Securities also issued estimates for Teekay Tankers’ Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.18 EPS and Q4 2017 earnings at $0.18 EPS.
A number of other equities research analysts have also recently weighed in on TNK. Danske reissued a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Vetr cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.05 target price for the company. in a report on Thursday, October 6th. Zacks Investment Research raised shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 21st. Morgan Stanley set a $3.60 target price on shares of Teekay Tankers and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Clarkson Capital cut shares of Teekay Tankers from a “buy” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $3.00 in a report on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Teekay Tankers currently has an average rating of “Hold” and an average target price of $6.18.
Shares of Teekay Tankers (NYSE:TNK) traded up 2.453% on Wednesday, reaching $2.715. 178,570 shares of the company were exchanged. The stock has a 50 day moving average of $2.61 and a 200-day moving average of $3.17. The company has a market capitalization of $424.35 million, a P/E ratio of 2.662 and a beta of 2.29. Teekay Tankers has a 52-week low of $2.42 and a 52-week high of $8.53.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $139.62 million for the quarter, compared to analyst estimates of $131.06 million. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. Teekay Tankers’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. PEAK6 Investments L.P. raised its position in shares of Teekay Tankers by 255.7% in the second quarter. PEAK6 Investments L.P. now owns 34,419 shares of the company’s stock valued at $103,000 after buying an additional 24,742 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Teekay Tankers during the second quarter valued at $105,000. BlackRock Advisors LLC raised its position in shares of Teekay Tankers by 29.4% in the second quarter. BlackRock Advisors LLC now owns 38,589 shares of the company’s stock valued at $115,000 after buying an additional 8,767 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Teekay Tankers during the second quarter valued at $117,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Teekay Tankers during the second quarter valued at $154,000. Institutional investors own 52.62% of the company’s stock.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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