Teekay Tankers Ltd. (NYSE:TNK) Given Consensus Recommendation of “Hold” by Brokerages
Teekay Tankers Ltd. (NYSE:TNK) has been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $2.27.
A number of brokerages recently weighed in on TNK. UBS AG reissued a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of Teekay Tankers in a report on Friday, June 9th. ValuEngine lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a report on Wednesday. Bank of America Corporation reissued an “underperform” rating and issued a $1.80 price target (down previously from $2.25) on shares of Teekay Tankers in a report on Wednesday, May 17th. Finally, BidaskClub lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a report on Wednesday.
A number of hedge funds have recently added to or reduced their stakes in TNK. James Investment Research Inc. raised its stake in Teekay Tankers by 0.5% in the first quarter. James Investment Research Inc. now owns 319,330 shares of the shipping company’s stock worth $655,000 after buying an additional 1,540 shares in the last quarter. American International Group Inc. raised its stake in Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares in the last quarter. Loews Corp raised its stake in Teekay Tankers by 9.7% in the first quarter. Loews Corp now owns 74,790 shares of the shipping company’s stock worth $153,000 after buying an additional 6,600 shares in the last quarter. Creative Planning raised its stake in Teekay Tankers by 7.8% in the second quarter. Creative Planning now owns 98,857 shares of the shipping company’s stock worth $186,000 after buying an additional 7,173 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Teekay Tankers by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 217,200 shares of the shipping company’s stock worth $491,000 after buying an additional 10,163 shares in the last quarter. 42.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Teekay Tankers (NYSE TNK) traded down 2.571% during trading on Friday, reaching $1.705. The company had a trading volume of 728,468 shares. Teekay Tankers has a 12-month low of $1.65 and a 12-month high of $3.25. The company has a market cap of $282.01 million, a P/E ratio of 10.089 and a beta of 2.24. The firm has a 50-day moving average of $1.78 and a 200-day moving average of $2.09.
Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, May 18th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.02. Teekay Tankers had a net margin of 5.48% and a return on equity of 4.58%. The firm had revenue of $125.10 million during the quarter, compared to the consensus estimate of $95.97 million. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue was down 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Teekay Tankers will post ($0.03) EPS for the current year.
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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 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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