Equities research analysts expect Teekay Tankers Ltd. (NYSE:TNK) to report sales of $91.38 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Teekay Tankers’ earnings, with the highest sales estimate coming in at $116.70 million and the lowest estimate coming in at $73.00 million. Teekay Tankers reported sales of $117.70 million during the same quarter last year, which would suggest a negative year over year growth rate of 22.4%. The business is expected to issue its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Teekay Tankers will report full-year sales of $91.38 million for the current fiscal year, with estimates ranging from $344.81 million to $399.60 million. For the next fiscal year, analysts anticipate that the firm will report sales of $439.29 million per share, with estimates ranging from $294.00 million to $552.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Teekay Tankers.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $91.20 million during the quarter, compared to analyst estimates of $68.67 million. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The firm’s revenue was down 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS.
Several equities research analysts recently commented on TNK shares. BidaskClub lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a report on Sunday, August 13th. Zacks Investment Research lowered shares of Teekay Tankers from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Bank of America dropped their target price on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Teekay Tankers has an average rating of “Sell” and an average price target of $1.60.
Several institutional investors and hedge funds have recently made changes to their positions in TNK. Cubist Systematic Strategies LLC grew its holdings in shares of Teekay Tankers by 21.8% in the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 9,526 shares during the period. Voya Investment Management LLC grew its holdings in shares of Teekay Tankers by 26.3% in the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 13,167 shares during the period. Nationwide Fund Advisors grew its holdings in shares of Teekay Tankers by 10.4% in the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 7,500 shares during the period. Loews Corp grew its holdings in shares of Teekay Tankers by 17.6% in the second quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock valued at $165,000 after purchasing an additional 13,200 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Teekay Tankers by 16.6% in the second quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 15,304 shares during the period. 35.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Teekay Tankers (NYSE:TNK) opened at $1.48 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.80. Teekay Tankers has a 1-year low of $1.37 and a 1-year high of $2.78.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Monday, November 20th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 8.11%. The ex-dividend date of this dividend was Friday, November 17th. Teekay Tankers’s payout ratio is -42.86%.
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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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