Brokerages expect Teekay Tankers Ltd. (NYSE:TNK) to report $119.53 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Teekay Tankers’ earnings, with the lowest sales estimate coming in at $111.18 million and the highest estimate coming in at $126.81 million. Teekay Tankers posted sales of $105.23 million in the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The business is scheduled to report its next earnings report before the market opens on Thursday, February 21st.
On average, analysts expect that Teekay Tankers will report full year sales of $401.97 million for the current fiscal year, with estimates ranging from $340.20 million to $542.63 million. For the next fiscal year, analysts expect that the business will post sales of $436.10 million, with estimates ranging from $386.50 million to $471.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts 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) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The firm had revenue of $92.87 million during the quarter, compared to analyst estimates of $82.95 million. Teekay Tankers had a negative return on equity of 7.71% and a negative net margin of 10.61%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. ValuEngine raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Wells Fargo & Co downgraded Teekay Tankers from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 10th. Finally, DNB Markets downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $1.11.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Teekay Tankers by 92.6% in the fourth quarter. SG Americas Securities LLC now owns 36,974 shares of the shipping company’s stock worth $34,000 after buying an additional 17,779 shares during the period. Essex Financial Services Inc. lifted its stake in shares of Teekay Tankers by 954.5% in the fourth quarter. Essex Financial Services Inc. now owns 116,000 shares of the shipping company’s stock worth $108,000 after acquiring an additional 105,000 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Teekay Tankers in the third quarter worth about $134,000. Rhumbline Advisers lifted its stake in shares of Teekay Tankers by 46.1% in the fourth quarter. Rhumbline Advisers now owns 268,239 shares of the shipping company’s stock worth $249,000 after acquiring an additional 84,593 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of Teekay Tankers in the fourth quarter worth about $314,000. 26.00% of the stock is owned by institutional investors.
Teekay Tankers stock traded up $0.01 during trading on Friday, hitting $0.93. The company’s stock had a trading volume of 11,163 shares, compared to its average volume of 850,842. The firm has a market capitalization of $253.01 million, a P/E ratio of -8.56, a PEG ratio of 8.05 and a beta of 1.34. Teekay Tankers has a 1-year low of $0.87 and a 1-year high of $1.36. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.05.
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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