Equities analysts predict that Teekay Tankers Ltd. (NYSE:TNK) will announce earnings of ($0.09) per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Teekay Tankers’ earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.10). Teekay Tankers posted earnings per share of ($0.01) in the same quarter last year, which indicates a negative year over year growth rate of 800%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.

On average, analysts expect that Teekay Tankers will report full-year earnings of ($0.07) per share for the current fiscal year, with EPS estimates ranging from ($0.10) to ($0.01). For the next fiscal year, analysts forecast that the company will post earnings of $0.19 per share, with EPS estimates ranging from ($0.09) to $0.43. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Teekay Tankers.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $89.40 million for the quarter, compared to analyst estimates of $80.68 million. Teekay Tankers had a positive return on equity of 0.39% and a negative net margin of 7.38%. The firm’s revenue for the quarter was down 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share.

A number of equities research analysts have commented on TNK shares. Zacks Investment Research upgraded Teekay Tankers from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Thursday, August 3rd. TheStreet cut Teekay Tankers from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. BidaskClub upgraded Teekay Tankers from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine cut Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus price target of $1.77.

Teekay Tankers (TNK) traded down 2.50% during trading on Monday, reaching $1.56. The company’s stock had a trading volume of 538,764 shares. The company has a 50 day moving average price of $1.61 and a 200-day moving average price of $1.74. Teekay Tankers has a 52 week low of $1.37 and a 52 week high of $2.78. The company’s market capitalization is $279.55 million.

Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Teekay Tankers by 16.6% during the second quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock worth $202,000 after purchasing an additional 15,304 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Teekay Tankers by 21.8% during the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock worth $100,000 after purchasing an additional 9,526 shares during the last quarter. State Street Corp boosted its holdings in shares of Teekay Tankers by 9.6% during the second quarter. State Street Corp now owns 1,952,507 shares of the shipping company’s stock worth $3,671,000 after purchasing an additional 170,377 shares during the last quarter. Voya Investment Management LLC boosted its holdings 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 purchasing an additional 13,167 shares during the last quarter. Finally, Huber Capital Management LLC boosted its holdings in shares of Teekay Tankers by 12.4% during the second quarter. Huber Capital Management LLC now owns 14,563,834 shares of the shipping company’s stock worth $27,380,000 after purchasing an additional 1,602,809 shares during the last quarter. Institutional investors and hedge funds own 39.87% of the company’s stock.

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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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