Brokerages predict that Teekay Tankers Ltd. (NYSE:TNK) will announce $89.25 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Teekay Tankers’ earnings, with the lowest sales estimate coming in at $87.10 million and the highest estimate coming in at $91.97 million. Teekay Tankers posted sales of $125.10 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 28.7%. The company is scheduled to report its next quarterly earnings results on Thursday, May 17th.
On average, analysts expect that Teekay Tankers will report full-year sales of $89.25 million for the current fiscal year, with estimates ranging from $370.95 million to $411.00 million. For the next financial year, analysts forecast that the company will post sales of $445.81 million per share, with estimates ranging from $363.72 million to $503.40 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Teekay Tankers.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, February 22nd. The shipping company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The company had revenue of $105.20 million during the quarter, compared to analyst estimates of $87.10 million. Teekay Tankers had a negative net margin of 13.78% and a negative return on equity of 2.16%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share.
Several equities research analysts have commented on TNK shares. ValuEngine downgraded shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Seaport Global Securities set a $3.00 price objective on shares of Teekay Tankers and gave the company a “buy” rating in a report on Thursday, January 4th. Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. UBS raised shares of Teekay Tankers from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $1.26 to $1.00 in a report on Monday, February 26th. Finally, DNB Markets raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Teekay Tankers presently has a consensus rating of “Hold” and a consensus target price of $1.72.
Several institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in shares of Teekay Tankers by 26.3% in the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock worth $119,000 after buying an additional 13,167 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Teekay Tankers by 16.6% in the second quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock worth $202,000 after buying an additional 15,304 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Teekay Tankers by 6.6% in the second quarter. Vanguard Group Inc. now owns 287,429 shares of the shipping company’s stock worth $540,000 after buying an additional 17,907 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Teekay Tankers by 14.5% in the second quarter. Parametric Portfolio Associates LLC now owns 167,966 shares of the shipping company’s stock worth $316,000 after buying an additional 21,325 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Teekay Tankers by 67.6% in the fourth quarter. American International Group Inc. now owns 137,048 shares of the shipping company’s stock worth $192,000 after buying an additional 55,258 shares in the last quarter. 47.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TNK stock opened at $1.18 on Wednesday. The company has a market cap of $224.00, a PE ratio of -3.58 and a beta of 2.18. Teekay Tankers has a fifty-two week low of $1.08 and a fifty-two week high of $2.25. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 0.92.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Monday, March 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 10.17%. The ex-dividend date of this dividend was Friday, March 2nd. Teekay Tankers’s payout ratio is -36.36%.
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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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