Teekay Tankers (TNK) to Release Quarterly Earnings on Wednesday

Teekay Tankers (NYSE:TNK) is scheduled to be announcing its earnings results before the market opens on Wednesday, February 21st. Analysts expect the company to announce earnings of ($0.02) per share for the quarter.

Shares of Teekay Tankers (NYSE:TNK) opened at $1.14 on Wednesday. The company has a market capitalization of $311.11, a P/E ratio of -4.07 and a beta of 2.18. Teekay Tankers has a 12-month low of $1.10 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.

A number of research firms have recently commented on TNK. Morgan Stanley cut their price objective on Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating for the company in a research report on Monday. Bank of America cut 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. ValuEngine cut Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Seaport Global Securities set a $3.00 price objective on Teekay Tankers and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $1.82.

An institutional investor recently raised its position in Teekay Tankers stock. Vanguard Group Inc. grew its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,429 shares of the shipping company’s stock after buying an additional 17,907 shares during the quarter. Vanguard Group Inc. owned 0.17% of Teekay Tankers worth $540,000 as of its most recent SEC filing. Institutional investors and hedge funds own 28.64% 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.

Earnings History for Teekay Tankers (NYSE:TNK)

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