Brokerages expect Teekay Tankers Ltd. (NYSE:TNK) to report earnings of $0.07 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Teekay Tankers’ earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.15. Teekay Tankers posted earnings per share of $0.29 during the same quarter last year, which would indicate a negative year over year growth rate of 75.9%. The company is scheduled to report its next earnings report on Thursday, May 18th.
On average, analysts expect that Teekay Tankers will report full-year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from ($0.02) to $0.21. For the next fiscal year, analysts expect that the company will report earnings of $0.29 per share, with EPS estimates ranging from ($0.11) to $0.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Teekay Tankers.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, February 23rd. The shipping company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.02. The company earned $117.70 million during the quarter, compared to analyst estimates 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 was down 30.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share.
TNK has been the subject of a number of research reports. Zacks Investment Research lowered Teekay Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Credit Suisse Group AG restated a “neutral” rating on shares of Teekay Tankers in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.62.
Teekay Tankers (NYSE:TNK) remained flat at $2.05 during mid-day trading on Monday. 880,349 shares of the company’s stock were exchanged. Teekay Tankers has a one year low of $1.90 and a one year high of $4.16. The stock has a market capitalization of $321.26 million, a PE ratio of 5.12 and a beta of 2.48. The firm has a 50 day moving average of $2.09 and a 200-day moving average of $2.32.
A number of hedge funds have recently made changes to their positions in the company. James Investment Research Inc. raised its stake in shares of Teekay Tankers by 0.5% in the first quarter. James Investment Research Inc. now owns 319,330 shares of the shipping company’s stock worth $655,000 after buying an additional 1,540 shares during the last quarter. Muhlenkamp & Co. Inc. raised its position in Teekay Tankers by 3.3% in the third quarter. Muhlenkamp & Co. Inc. now owns 50,695 shares of the shipping company’s stock valued at $128,000 after buying an additional 1,620 shares during the last quarter. Loews Corp raised its position in Teekay Tankers by 10.4% in the fourth quarter. Loews Corp now owns 68,190 shares of the shipping company’s stock valued at $154,000 after buying an additional 6,400 shares during the last quarter. Teachers Advisors LLC raised its position in Teekay Tankers by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 217,200 shares of the shipping company’s stock valued at $491,000 after buying an additional 10,163 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in Teekay Tankers during the fourth quarter valued at about $105,000. Hedge funds and other institutional investors own 44.98% of the company’s stock.
About Teekay Tankers
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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