Teekay Tankers Downgraded to Underperform at Zacks (TNK)
Teekay Tankers (NYSE:TNK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday, AnalystRatings.NET reports. They currently have a $2.50 target price on the stock. Zacks‘ price target would suggest a potential downside of 3.10% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Teekay Tankers from $50.00 to $53.00 in a research note to investors on Monday, September 30th. They now have an “outperform” rating on the stock. Finally, analysts at Evercore Partners cut their price target on shares of Teekay Tankers from $4.00 to $3.50 in a research note to investors on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.54.
Teekay Tankers (NYSE:TNK) traded up 0.81% during mid-day trading on Wednesday, hitting $2.601. 130,827 shares of the company’s stock traded hands. Teekay Tankers has a 52 week low of $2.38 and a 52 week high of $3.68. The stock has a 50-day moving average of $2.67 and a 200-day moving average of $2.69. The company’s market cap is $217.4 million.
Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.06. Analysts expect that Teekay Tankers will post $-0.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Friday, October 11th.
Teekay Tankers Ltd. is an international provider of marine transportation to global oil industries. The Company’s business is to own crude oil and product tankers.
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