Teekay Tankers Ltd. (TNK) to Release Quarterly Earnings on Thursday
Teekay Tankers Ltd. (NYSE:TNK) is scheduled to issue its quarterly earnings data before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results 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). The company had revenue of $89.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, analysts expect Teekay Tankers to post $-0.09 EPS for the current fiscal year and $0.15 EPS for the next fiscal year.
An institutional investor recently raised its position in Teekay Tankers stock. Vanguard Group Inc. raised its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,429 shares of the shipping company’s stock after purchasing an additional 17,907 shares during the period. Vanguard Group Inc. owned about 0.17% of Teekay Tankers worth $540,000 as of its most recent filing with the Securities & Exchange Commission. 39.87% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on TNK. TheStreet lowered Teekay Tankers from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. ValuEngine lowered Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised Teekay Tankers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock presently has an average rating of “Sell” and an average price target of $1.77.
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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