Teekay Tankers Ltd. (NYSE:TNK) was downgraded by equities researchers at Clarkson Capital from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.
Other equities analysts have also issued reports about the stock. Vetr lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price objective on the stock. in a report on Wednesday, June 8th. Morgan Stanley set a $3.60 target price on shares of Teekay Tankers and gave the company a “hold” rating in a research note on Friday, August 5th. Zacks Investment Research downgraded shares of Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. Finally, Danske reaffirmed a “sell” rating on shares of Teekay Tankers in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Teekay Tankers has an average rating of “Hold” and a consensus target price of $7.00.
Teekay Tankers (NYSE:TNK) opened at 2.53 on Monday. The company’s 50 day moving average is $2.64 and its 200-day moving average is $3.24. The firm has a market cap of $395.44 million, a price-to-earnings ratio of 2.48 and a beta of 2.29. Teekay Tankers has a 1-year low of $2.42 and a 1-year high of $8.53.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The business had revenue of $139.62 million for the quarter, compared to analyst estimates of $131.06 million. During the same period in the prior year, the business posted $0.35 earnings per share. Teekay Tankers’s revenue was up 25.4% compared to the same quarter last year. On average, analysts predict that Teekay Tankers will post $0.81 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of TNK. Tocqueville Asset Management L.P. bought a new stake in Teekay Tankers during the second quarter worth about $703,000. Evergreen Capital Management LLC acquired a new position in Teekay Tankers during the second quarter worth approximately $4,389,000. Bank of Montreal Can acquired a new position in Teekay Tankers during the second quarter worth approximately $117,000. James Investment Research Inc. acquired a new position in Teekay Tankers during the second quarter worth approximately $543,000. Finally, Royal Bank of Canada raised its position in Teekay Tankers by 37.8% in the first quarter. Royal Bank of Canada now owns 234,723 shares of the company’s stock worth $861,000 after buying an additional 64,332 shares in the last quarter. Institutional investors own 52.62% of the company’s stock.
About Teekay Tankers
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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