Teekay Tankers Ltd. (NYSE:TNK) has received an average rating of “Hold” from the fourteen ratings firms that are covering the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $7.00.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Teekay Tankers from a “hold” rating to a “strong sell” rating in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $2.50 price target (down previously from $3.60) on shares of Teekay Tankers in a research report on Friday, August 26th. Danske reissued a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Finally, Vetr cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target on the stock. in a research report on Wednesday, June 8th.
Shares of Teekay Tankers (NYSE:TNK) opened at 2.53 on Thursday. Teekay Tankers has a 1-year low of $2.42 and a 1-year high of $8.53. The firm has a market capitalization of $395.44 million, a PE ratio of 2.48 and a beta of 2.42. The company has a 50-day moving average of $2.64 and a 200-day moving average of $3.24.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The business had revenue of $139.62 million for the quarter, compared to analysts’ expectations of $131.06 million. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Equities research analysts predict that Teekay Tankers will post $0.81 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. 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 in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Teekay Tankers during the second quarter valued at approximately $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 in the last quarter. Bank of Montreal Can bought a new position in shares of Teekay Tankers during the second quarter valued at approximately $117,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Teekay Tankers during the second quarter valued at approximately $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 owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.
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