Teekay Tankers Ltd. (TNK) Receives Consensus Rating of “Hold” from Brokerages
Shares of Teekay Tankers Ltd. (NYSE:TNK) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $2.12.
A number of analysts have issued reports on the stock. UBS AG reiterated a “sell” rating and set a $1.50 price target (down from $2.00) on shares of Teekay Tankers in a research note on Friday, June 9th. TheStreet lowered shares of Teekay Tankers from a “c” rating to a “d+” rating in a research note on Thursday, August 3rd. ValuEngine cut shares of Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of Teekay Tankers from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd.
Teekay Tankers (NYSE TNK) traded down 1.24% during midday trading on Wednesday, hitting $1.59. 598,237 shares of the stock traded hands. The firm’s market cap is $284.93 million. The company’s 50-day moving average is $1.51 and its 200 day moving average is $1.79. Teekay Tankers has a 12-month low of $1.37 and a 12-month high of $2.85.
Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, August 3rd. The shipping company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Teekay Tankers had a positive return on equity of 0.39% and a negative net margin of 7.38%. The company had revenue of $89.40 million during the quarter, compared to analysts’ expectations of $80.68 million. During the same period last year, the business posted $0.20 EPS. Teekay Tankers’s revenue for the quarter was down 36.0% on a year-over-year basis. On average, analysts anticipate that Teekay Tankers will post ($0.02) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC boosted its stake in shares of Teekay Tankers by 21.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after buying an additional 9,526 shares during the period. Two Sigma Securities LLC grew its position in shares of Teekay Tankers by 243.5% during the first quarter. Two Sigma Securities LLC now owns 51,750 shares of the shipping company’s stock worth $106,000 after buying an additional 36,683 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Teekay Tankers during the first quarter worth about $113,000. Voya Investment Management LLC grew its position in shares of Teekay Tankers by 26.3% during the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock worth $119,000 after buying an additional 13,167 shares in the last quarter. Finally, American International Group Inc. grew its position in shares of Teekay Tankers by 7.0% during 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. 39.00% of the stock is currently owned by institutional investors.
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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