Teekay Tankers Ltd. (TNK) Expected to Announce Earnings of -$0.06 Per Share

Equities research analysts expect that Teekay Tankers Ltd. (NYSE:TNK) will report earnings per share of ($0.06) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Teekay Tankers’ earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.04). Teekay Tankers reported earnings of $0.03 per share in the same quarter last year, which suggests a negative year over year growth rate of 300%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Teekay Tankers will report full year earnings of ($0.15) per share for the current financial year, with EPS estimates ranging from ($0.20) to ($0.12). For the next financial year, analysts expect that the company will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.35) to $0.12. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Teekay Tankers.

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

Several research analysts have recently weighed in on TNK shares. Zacks Investment Research raised Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Seaport Global Securities set a $3.00 price objective on Teekay Tankers and gave the stock a “buy” rating in a research report on Thursday, January 4th. ValuEngine lowered Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Bank of America lowered their price objective on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $1.95.

Institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its position in 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 in the last quarter. Voya Investment Management LLC increased its position in Teekay Tankers by 26.3% in the 2nd quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after buying an additional 13,167 shares in the last quarter. Nationwide Fund Advisors increased its position in Teekay Tankers by 10.4% in the 2nd quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after buying an additional 7,500 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Teekay Tankers by 16.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock valued at $202,000 after buying an additional 15,304 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Teekay Tankers by 7.2% in the 2nd quarter. Rhumbline Advisers now owns 140,315 shares of the shipping company’s stock valued at $264,000 after buying an additional 9,437 shares in the last quarter. 28.34% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers (NYSE:TNK) opened at $1.32 on Friday. Teekay Tankers has a 12-month low of $1.30 and a 12-month high of $2.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $356.73, a PE ratio of -4.71 and a beta of 2.29.

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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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Earnings History and Estimates for Teekay Tankers (NYSE:TNK)

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