Equities analysts expect Teekay Tankers Ltd. (NYSE:TNK) to post earnings of ($0.11) per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Teekay Tankers’ earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at ($0.08). Teekay Tankers reported earnings per share of ($0.08) in the same quarter last year, which indicates a negative year over year growth rate of 37.5%. The company is expected to announce its next earnings report before the market opens on Thursday, November 15th.
According to Zacks, analysts expect that Teekay Tankers will report full year earnings of ($0.33) per share for the current fiscal year, with EPS estimates ranging from ($0.44) to ($0.26). For the next fiscal year, analysts forecast that the business will report earnings of ($0.07) per share, with EPS estimates ranging from ($0.33) to $0.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Teekay Tankers.
TNK has been the topic of several analyst reports. ValuEngine raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Jefferies Financial Group started coverage on shares of Teekay Tankers in a research report on Monday, October 1st. They issued a “hold” rating and a $1.00 target price on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Teekay Tankers in a research report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $1.52.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in Teekay Tankers by 51.6% during the second quarter. Renaissance Technologies LLC now owns 2,203,510 shares of the shipping company’s stock valued at $2,578,000 after purchasing an additional 750,400 shares in the last quarter. Bienville Capital Management LLC purchased a new position in Teekay Tankers during the second quarter valued at approximately $1,026,000. Wells Fargo & Company MN grew its position in Teekay Tankers by 41.4% during the first quarter. Wells Fargo & Company MN now owns 344,134 shares of the shipping company’s stock valued at $409,000 after purchasing an additional 100,748 shares in the last quarter. Guggenheim Capital LLC grew its position in Teekay Tankers by 30.6% during the first quarter. Guggenheim Capital LLC now owns 1,837,326 shares of the shipping company’s stock valued at $2,186,000 after purchasing an additional 430,659 shares in the last quarter. Finally, BlackRock Inc. grew its position in Teekay Tankers by 0.9% during the first quarter. BlackRock Inc. now owns 9,714,598 shares of the shipping company’s stock valued at $11,561,000 after purchasing an additional 85,310 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Tankers stock opened at $1.18 on Monday. The company has a market capitalization of $330.33 million, a PE ratio of -10.73 and a beta of 1.47. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.96. Teekay Tankers has a fifty-two week low of $0.94 and a fifty-two week high of $1.95.
About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
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