Teekay Tankers (NYSE:TNK) Announces Earnings Results

Teekay Tankers (NYSE:TNK) issued its quarterly earnings results on Wednesday. The shipping company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.86 by $0.18, Zacks reports. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%. The business had revenue of $369.25 million during the quarter, compared to analysts’ expectations of $263.55 million.

Teekay Tankers Stock Performance

TNK opened at $89.13 on Thursday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 5.25 and a beta of -0.05. The company has a fifty day moving average of $97.09 and a 200 day moving average of $80.13. Teekay Tankers has a fifty-two week low of $50.94 and a fifty-two week high of $110.65.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Teekay Tankers’s dividend payout ratio is currently 5.89%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TNK. Weiss Ratings upgraded Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Evercore reissued an “outperform” rating and issued a $116.00 target price on shares of Teekay Tankers in a report on Tuesday, October 27th. Zacks Research cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Wall Street Zen cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.50.

Insider Buying and Selling at Teekay Tankers

In other Teekay Tankers news, Director Rohit (Rk2) Kapoor sold 6,375 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $89.28, for a total transaction of $569,160.00. Following the completion of the transaction, the director owned 2,126 shares of the company’s stock, valued at $189,809.28. This represents a 74.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi Locke Simon sold 741 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total value of $66,690.00. Following the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $360,000. The trade was a 15.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 14,561 shares of company stock worth $1,380,350. Insiders own 1.90% of the company’s stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers. The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.