Wall Street brokerages forecast that Teekay Tankers Ltd. (NYSE:TNK) will post $90.58 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Teekay Tankers’ earnings. The lowest sales estimate is $73.00 million and the highest is $116.70 million. Teekay Tankers posted sales of $117.70 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 23%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Teekay Tankers will report full-year sales of $90.58 million for the current year, with estimates ranging from $344.81 million to $399.60 million. For the next financial year, analysts forecast that the firm will post sales of $459.55 million per share, with estimates ranging from $294.00 million to $552.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Teekay Tankers.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ 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 earned ($0.01) EPS. Teekay Tankers’s quarterly revenue was down 16.8% compared to the same quarter last year.
A number of research analysts have recently issued reports on the company. ValuEngine downgraded Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. TheStreet downgraded Teekay Tankers from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. BidaskClub upgraded Teekay Tankers from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Bank of America Corporation cut their price target on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a report on Friday, November 10th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Teekay Tankers has an average rating of “Sell” and a consensus price target of $1.60.
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A number of institutional investors have recently bought and sold shares of TNK. Susquehanna International Group LLP lifted its holdings in shares of Teekay Tankers by 585.6% in the 3rd quarter. Susquehanna International Group LLP now owns 362,614 shares of the shipping company’s stock valued at $588,000 after buying an additional 309,723 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Teekay Tankers by 41.5% in the 3rd quarter. Wells Fargo & Company MN now owns 336,234 shares of the shipping company’s stock valued at $545,000 after buying an additional 98,673 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $634,000. Evergreen Capital Management LLC lifted its holdings in shares of Teekay Tankers by 78.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 213,050 shares of the shipping company’s stock valued at $345,000 after buying an additional 93,500 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $867,000. Institutional investors and hedge funds own 39.58% of the company’s stock.
Shares of Teekay Tankers (NYSE TNK) traded down $0.04 during midday trading on Wednesday, reaching $1.42. The company’s stock had a trading volume of 996,300 shares, compared to its average volume of 1,274,468. Teekay Tankers has a 1-year low of $1.37 and a 1-year high of $2.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.80.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, November 17th. This represents a $0.12 annualized dividend and a yield of 8.45%. Teekay Tankers’s payout ratio is presently -42.86%.
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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