Equities research analysts predict that Teekay Tankers Ltd. (NYSE:TNK) will report sales of $81.85 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Teekay Tankers’ earnings, with the lowest sales estimate coming in at $75.90 million and the highest estimate coming in at $85.60 million. Teekay Tankers reported sales of $139.62 million in the same quarter last year, which would suggest a negative year over year growth rate of 41.4%. The company is expected to issue its next quarterly earnings results on Thursday, August 3rd.

According to Zacks, analysts expect that Teekay Tankers will report full year sales of $81.85 million for the current year, with estimates ranging from $386.00 million to $414.57 million. For the next financial year, analysts forecast that the firm will report sales of $513.14 million per share, with estimates ranging from $437.82 million to $553.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Teekay Tankers.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, May 18th. The shipping company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Teekay Tankers had a return on equity of 4.58% and a net margin of 5.48%. The firm had revenue of $125.10 million for the quarter, compared to the consensus estimate of $95.97 million. During the same period in the prior year, the company earned $0.29 EPS. The company’s revenue for the quarter was down 24.2% compared to the same quarter last year.

Several brokerages have commented on TNK. ValuEngine downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Teekay Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $1.80 target price (down previously from $2.25) on shares of Teekay Tankers in a research note on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.59.

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Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Teekay Tankers by 21.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,889,137 shares of the shipping company’s stock worth $12,073,000 after buying an additional 1,042,375 shares during the period. State Street Corp increased its stake in shares of Teekay Tankers by 5.1% in the fourth quarter. State Street Corp now owns 1,778,927 shares of the shipping company’s stock worth $4,021,000 after buying an additional 85,736 shares during the period. California Public Employees Retirement System increased its stake in shares of Teekay Tankers by 1,094.2% in the first quarter. California Public Employees Retirement System now owns 1,507,130 shares of the shipping company’s stock worth $3,090,000 after buying an additional 1,380,930 shares during the period. Schroder Investment Management Group increased its stake in shares of Teekay Tankers by 2.6% in the first quarter. Schroder Investment Management Group now owns 1,195,400 shares of the shipping company’s stock worth $2,498,000 after buying an additional 29,800 shares during the period. Finally, Allianz Asset Management AG increased its stake in shares of Teekay Tankers by 28.8% in the fourth quarter. Allianz Asset Management AG now owns 1,069,106 shares of the shipping company’s stock worth $2,417,000 after buying an additional 239,281 shares during the period. Hedge funds and other institutional investors own 41.95% of the company’s stock.

Teekay Tankers (TNK) traded down 1.12% during midday trading on Friday, reaching $1.76. 481,028 shares of the company traded hands. The firm has a 50-day moving average price of $1.86 and a 200-day moving average price of $2.15. The firm has a market capitalization of $291.10 million, a price-to-earnings ratio of 10.41 and a beta of 2.24. Teekay Tankers has a one year low of $1.65 and a one year high of $3.28.

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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Earnings History and Estimates for Teekay Tankers (NYSE:TNK)

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