Shares of Teekay Tankers Ltd. (NYSE:TNK) have received a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.85.
A number of brokerages have weighed in on TNK. Zacks Investment Research lowered Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Credit Suisse Group AG restated a “neutral” rating on shares of Teekay Tankers in a report on Wednesday, February 22nd.
Shares of Teekay Tankers (NYSE:TNK) opened at 2.23 on Tuesday. The company’s 50-day moving average is $2.37 and its 200-day moving average is $2.44. The stock has a market cap of $349.47 million, a P/E ratio of 5.57 and a beta of 2.48. Teekay Tankers has a 1-year low of $1.90 and a 1-year high of $4.30.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.02. The firm earned $117.70 million during the quarter, compared to analysts’ expectations of $102.59 million. Teekay Tankers had a net margin of 18.95% and a return on equity of 13.73%. The company’s revenue for the quarter was down 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities analysts expect that Teekay Tankers will post $0.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Monday, March 6th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 5.38%. Teekay Tankers’s payout ratio is currently 17.14%.
A number of hedge funds and other institutional investors have recently made changes to their positions in TNK. Tudor Investment Corp Et Al purchased a new position in shares of Teekay Tankers during the fourth quarter worth $105,000. Muhlenkamp & Co. Inc. raised its position in shares of Teekay Tankers by 3.3% in the third quarter. Muhlenkamp & Co. Inc. now owns 50,695 shares of the company’s stock worth $128,000 after buying an additional 1,620 shares during the last quarter. Loews Corp raised its position in shares of Teekay Tankers by 10.4% in the fourth quarter. Loews Corp now owns 68,190 shares of the company’s stock worth $154,000 after buying an additional 6,400 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Teekay Tankers during the third quarter worth $195,000. Finally, Federated Investors Inc. PA purchased a new position in shares of Teekay Tankers during the fourth quarter worth $288,000. Institutional investors own 44.98% 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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