Zacks Upgrades Teekay Tankers to “Outperform” (TNK)
Teekay Tankers (NYSE:TNK) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Thursday. The firm currently has a $4.50 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 11.39% from the stock’s previous close.
Teekay Tankers (NYSE:TNK) traded down 0.99% on Thursday, hitting $4.00. The stock had a trading volume of 181,233 shares. Teekay Tankers has a one year low of $2.49 and a one year high of $5.08. The stock’s 50-day moving average is $4.07 and its 200-day moving average is $3.83. The company has a market cap of $334.8 million and a price-to-earnings ratio of 17.26.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.21. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Analysts expect that Teekay Tankers will post $0.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 31st. Investors of record on Friday, July 18th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Wednesday, July 16th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Evercore Partners raised their price target on shares of Teekay Tankers from $5.00 to $5.50 in a research note on Friday, May 16th. Separately, analysts at Citigroup Inc. cut their price target on shares of Teekay Tankers from $5.00 to $3.50 in a research note on Wednesday, May 14th. They now have an “underperform” rating on the stock. Finally, analysts at Bank of America downgraded shares of Teekay Tankers from a “neutral” rating to an “underperform” rating in a research note on Wednesday, May 14th. They now have a $5.00 price target on the stock, up previously from $3.50. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.67.
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.
To view Zacks’ full report, visit Zacks’ official website.
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