Q1 2017 EPS Estimates for Teekay Tankers Ltd. (TNK) Cut by Seaport Global Securities
Teekay Tankers Ltd. (NYSE:TNK) – Stock analysts at Seaport Global Securities reduced their Q1 2017 earnings estimates for Teekay Tankers in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the brokerage will post earnings per share of $0.18 for the quarter, down from their previous forecast of $0.23. Seaport Global Securities also issued estimates for Teekay Tankers’ Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.18 EPS and Q4 2017 earnings at $0.18 EPS.
A number of other equities analysts have also recently weighed in on the company. Vetr cut Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.05 price target on the stock. in a research note on Thursday, October 6th. Zacks Investment Research cut Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 6th. Clarkson Capital cut Teekay Tankers from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $3.00 in a research note on Monday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $2.50 target price (down previously from $3.60) on shares of Teekay Tankers in a research note on Friday, August 26th. Finally, Danske reaffirmed a “sell” rating on shares of Teekay Tankers in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Teekay Tankers has a consensus rating of “Hold” and a consensus target price of $6.18.
Shares of Teekay Tankers (NYSE:TNK) traded down 1.45% during mid-day trading on Wednesday, reaching $2.71. 792,959 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $2.62 and a 200-day moving average price of $3.17. The company has a market capitalization of $423.57 million, a P/E ratio of 2.66 and a beta of 2.29. Teekay Tankers has a 1-year low of $2.42 and a 1-year high of $8.53.
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Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The firm had revenue of $139.62 million for the quarter, compared to analyst estimates of $131.06 million. During the same quarter last year, the firm posted $0.35 earnings per share. Teekay Tankers’s revenue for the quarter was up 25.4% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the stock. James Investment Research Inc. bought a new stake in Teekay Tankers during the second quarter valued at $543,000. Prudential Financial Inc. raised its stake in Teekay Tankers by 85.5% in the first quarter. Prudential Financial Inc. now owns 287,693 shares of the company’s stock valued at $1,056,000 after buying an additional 132,600 shares during the period. Mount Lucas Management LP raised its stake in Teekay Tankers by 13.3% in the first quarter. Mount Lucas Management LP now owns 151,574 shares of the company’s stock valued at $556,000 after buying an additional 17,740 shares during the period. UBS Group AG raised its stake in Teekay Tankers by 32.4% in the first quarter. UBS Group AG now owns 707,125 shares of the company’s stock valued at $2,595,000 after buying an additional 172,989 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Teekay Tankers by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 856,123 shares of the company’s stock valued at $2,551,000 after buying an additional 27,742 shares during the period. Institutional investors and hedge funds own 52.62% of the company’s stock.
About Teekay Tankers
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 has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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