Teekay Tankers (NYSE: TNK) has recently received a number of price target changes and ratings updates:

  • 8/3/2017 – Teekay Tankers was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.00 price target on the stock. According to Zacks, “Teekay Tankers Ltd. is a Marshall Islands corporation recently formed by Teekay Corporation to provide international marine transportation of crude oil. Teekay Tankers Ltd. owns a fleet of nine double-hull Aframax-class oil tankers, which an affiliate of Teekay Corporation manages under a mix of spot-market trading and short- or medium-term fixed-rate time-charter contracts. In addition, Teekay Corporation will offer to Teekay Tankers Ltd. within eighteen months of the initial public offering the opportunity to purchase up to four Suezmax-class oil tankers. Teekay Tankers Ltd. intends to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors. “
  • 8/3/2017 – Teekay Tankers was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating.
  • 8/2/2017 – Teekay Tankers was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/1/2017 – Teekay Tankers was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 7/27/2017 – Teekay Tankers was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Teekay Tankers Ltd. is a Marshall Islands corporation recently formed by Teekay Corporation to provide international marine transportation of crude oil. Teekay Tankers Ltd. owns a fleet of nine double-hull Aframax-class oil tankers, which an affiliate of Teekay Corporation manages under a mix of spot-market trading and short- or medium-term fixed-rate time-charter contracts. In addition, Teekay Corporation will offer to Teekay Tankers Ltd. within eighteen months of the initial public offering the opportunity to purchase up to four Suezmax-class oil tankers. Teekay Tankers Ltd. intends to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors. “
  • 7/19/2017 – Teekay Tankers was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.75 price target on the stock. According to Zacks, “Teekay Tankers Ltd. is a Marshall Islands corporation recently formed by Teekay Corporation to provide international marine transportation of crude oil. Teekay Tankers Ltd. owns a fleet of nine double-hull Aframax-class oil tankers, which an affiliate of Teekay Corporation manages under a mix of spot-market trading and short- or medium-term fixed-rate time-charter contracts. In addition, Teekay Corporation will offer to Teekay Tankers Ltd. within eighteen months of the initial public offering the opportunity to purchase up to four Suezmax-class oil tankers. Teekay Tankers Ltd. intends to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors. “
  • 7/19/2017 – Teekay Tankers was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/21/2017 – Teekay Tankers was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Teekay Tankers Ltd. is a Marshall Islands corporation recently formed by Teekay Corporation to provide international marine transportation of crude oil. Teekay Tankers Ltd. owns a fleet of nine double-hull Aframax-class oil tankers, which an affiliate of Teekay Corporation manages under a mix of spot-market trading and short- or medium-term fixed-rate time-charter contracts. In addition, Teekay Corporation will offer to Teekay Tankers Ltd. within eighteen months of the initial public offering the opportunity to purchase up to four Suezmax-class oil tankers. Teekay Tankers Ltd. intends to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors. “
  • 6/9/2017 – Teekay Tankers had its “sell” rating reaffirmed by analysts at UBS AG. They now have a $1.50 price target on the stock, down previously from $2.00.

Teekay Tankers Ltd. (TNK) traded down 2.047% during midday trading on Monday, reaching $1.675. The company had a trading volume of 252,222 shares. Teekay Tankers Ltd. has a 12-month low of $1.65 and a 12-month high of $3.12. The stock’s 50 day moving average is $1.76 and its 200 day moving average is $2.05. The firm has a market capitalization of $277.04 million, a price-to-earnings ratio of 9.911 and a beta of 2.24.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Teekay Tankers had a positive return on equity of 0.39% and a negative net margin of 7.38%. The business had revenue of $89.40 million for the quarter, compared to analysts’ expectations of $80.68 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was down 36.0% on a year-over-year basis. Equities research analysts expect that Teekay Tankers Ltd. will post ($0.03) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 14th will be given a $0.03 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.12 annualized dividend and a yield of 7.02%. Teekay Tankers’s dividend payout ratio is currently -63.16%.

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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