Teekay Tankers Ltd. (TNK) Given Average Recommendation of “Sell” by Brokerages

Teekay Tankers Ltd. (NYSE:TNK) has been given a consensus recommendation of “Sell” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $1.40.

A number of equities research analysts recently weighed in on the company. Bank of America decreased their price objective on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research note on Friday, November 10th. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th.

Shares of Teekay Tankers (TNK) traded up $0.02 during midday trading on Monday, hitting $1.49. The company had a trading volume of 3,098,900 shares, compared to its average volume of 1,348,949. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67. Teekay Tankers has a 1 year low of $1.37 and a 1 year high of $2.70.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $91.20 million during the quarter, compared to analysts’ expectations of $68.67 million. Teekay Tankers had a negative return on equity of 0.99% and a negative net margin of 11.43%. The firm’s quarterly revenue was down 16.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. equities analysts forecast that Teekay Tankers will post -0.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Monday, November 20th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date of this dividend was Friday, November 17th. Teekay Tankers’s dividend payout ratio (DPR) is presently -42.86%.

Institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its stake in Teekay Tankers by 21.8% during the 2nd 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 in the last quarter. Voya Investment Management LLC lifted its stake in shares of Teekay Tankers by 26.3% during the 2nd 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 during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Teekay Tankers by 10.4% during the 2nd quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock worth $150,000 after buying an additional 7,500 shares during the last quarter. Loews Corp lifted its stake in shares of Teekay Tankers by 17.6% during the 2nd quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock worth $165,000 after buying an additional 13,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Teekay Tankers by 16.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock worth $202,000 after buying an additional 15,304 shares during the last quarter. Institutional investors own 35.91% of the company’s stock.

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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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