Teekay Tankers Upgraded by Merrill Lynch to Buy (TNK)
Teekay Tankers (NYSE:TNK) was upgraded by Merrill Lynch to a “buy” rating in a research note issued on Wednesday, AnalystRatings.Net reports.
Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, November 7th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.03. The company had revenue of $39.48 million for the quarter, compared to the consensus estimate of $39.62 million.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of 0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, January 15th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. upgraded shares of Teekay Tankers to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Zacks upgraded shares of Teekay Tankers from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $4.10 price target on the stock. Finally, analysts at Zacks upgraded shares of Teekay Tankers from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. They now have a $2.80 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.48.
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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