Teekay Tankers Ltd. (TNK) Sets New 52-Week Low at $2.48
Teekay Tankers Ltd. (NYSE:TNK)’s share price reached a new 52-week low on Tuesday . The company traded as low as $2.48 and last traded at $2.49, with a volume of 756,863 shares traded. The stock had previously closed at $2.52.
TNK has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. Morgan Stanley reissued an “equal weight” rating and set a $2.50 price target (down from $3.60) on shares of Teekay Tankers in a research note on Friday, August 26th. Vetr lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target for the company. in a research note on Wednesday, June 8th. Finally, Danske reissued a “sell” rating on shares of Teekay Tankers in a research note on Monday, August 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Teekay Tankers has an average rating of “Hold” and an average target price of $7.00.
The firm has a 50 day moving average of $2.74 and a 200 day moving average of $3.32. The firm has a market cap of $389.19 million, a PE ratio of 2.44 and a beta of 2.42.
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Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. The company earned $139.62 million during the quarter, compared to analyst estimates of $131.06 million. During the same period in the previous year, the business earned $0.35 EPS. Teekay Tankers’s quarterly revenue was up 25.4% on a year-over-year basis. Analysts anticipate that Teekay Tankers Ltd. will post $0.81 EPS for the current year.
Large investors have recently bought and sold shares of the company. Loews Corp raised its stake in Teekay Tankers by 3.5% in the second quarter. Loews Corp now owns 61,790 shares of the company’s stock valued at $184,000 after buying an additional 2,100 shares during the period. Wedbush Securities Inc. raised its stake in Teekay Tankers by 2.4% in the second quarter. Wedbush Securities Inc. now owns 137,250 shares of the company’s stock valued at $409,000 after buying an additional 3,250 shares during the period. CNA Financial Corp raised its stake in Teekay Tankers by 3.2% in the second quarter. CNA Financial Corp now owns 232,650 shares of the company’s stock valued at $693,000 after buying an additional 7,300 shares during the period. BlackRock Advisors LLC raised its stake in Teekay Tankers by 29.4% in the second quarter. BlackRock Advisors LLC now owns 38,589 shares of the company’s stock valued at $115,000 after buying an additional 8,767 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Teekay Tankers by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 1,960,987 shares of the company’s stock valued at $5,843,000 after buying an additional 8,985 shares during the period. Institutional investors own 52.62% of the company’s stock.
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 owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.
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