Equities analysts expect that Teekay Tankers Ltd. (NYSE:TNK) will announce sales of $114.66 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Teekay Tankers’ earnings. The lowest sales estimate is $107.35 million and the highest is $122.00 million. Teekay Tankers posted sales of $105.23 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The firm is expected to issue its next quarterly earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Teekay Tankers will report full year sales of $397.38 million for the current fiscal year, with estimates ranging from $340.20 million to $542.63 million. For the next fiscal year, analysts anticipate that the company will report sales of $433.34 million, with estimates ranging from $386.50 million to $471.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Teekay Tankers.
Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, November 15th. The shipping company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. Teekay Tankers had a negative return on equity of 7.71% and a negative net margin of 10.61%. The company had revenue of $92.87 million for the quarter, compared to analysts’ expectations of $82.95 million.
Several research firms have weighed in on TNK. ValuEngine raised Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research note on Wednesday, November 21st. Wells Fargo & Co lowered their target price on Teekay Tankers from $1.65 to $1.40 and set an “outperform” rating on the stock in a research note on Tuesday, November 20th. Finally, Jefferies Financial Group began coverage on Teekay Tankers in a research note on Monday, October 1st. They set a “hold” rating and a $1.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Teekay Tankers has a consensus rating of “Buy” and a consensus price target of $1.43.
NYSE:TNK opened at $1.20 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.99. Teekay Tankers has a fifty-two week low of $0.94 and a fifty-two week high of $1.68. The stock has a market cap of $308.84 million, a price-to-earnings ratio of -10.91 and a beta of 1.47.
Institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. acquired a new stake in shares of Teekay Tankers during the 3rd quarter valued at about $134,000. JPMorgan Chase & Co. lifted its holdings in shares of Teekay Tankers by 20.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 556,705 shares of the shipping company’s stock valued at $550,000 after buying an additional 95,879 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Teekay Tankers during the 2nd quarter valued at about $583,000. Morgan Stanley lifted its holdings in shares of Teekay Tankers by 33.7% during the 3rd quarter. Morgan Stanley now owns 945,872 shares of the shipping company’s stock valued at $935,000 after buying an additional 238,177 shares during the last quarter. Finally, Bienville Capital Management LLC acquired a new stake in shares of Teekay Tankers during the 2nd quarter valued at about $1,026,000. Institutional investors and hedge funds own 27.56% of the company’s stock.
About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
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