Teekay Tankers Ltd. (TNK) Sets New 52-Week Low at $2.76
Teekay Tankers Ltd. (NYSE:TNK)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $2.76 and last traded at $2.77, with a volume of 743,637 shares changing hands. The stock had previously closed at $2.80.
Several equities analysts recently commented on TNK shares. Clarkson Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Teekay Tankers in a research note on Thursday, May 19th. Seaport Global Securities started coverage on Teekay Tankers in a research report on Wednesday, May 4th. They set a “buy” rating and a $6.00 target price on the stock. Vetr downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 target price on the stock. in a research report on Wednesday, June 8th. Zacks Investment Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Stifel Nicolaus downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Teekay Tankers has an average rating of “Hold” and an average target price of $7.09.
The stock has a market cap of $434.26 million and a price-to-earnings ratio of 2.73. The company’s 50-day moving average price is $3.00 and its 200-day moving average price is $3.61.
Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. During the same period last year, the firm posted $0.35 EPS. The company earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. Equities analysts forecast that Teekay Tankers Ltd. will post $0.84 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 15th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 8.63%. The ex-dividend date of this dividend is Thursday, August 11th.
An institutional investor recently raised its position in Teekay Tankers stock. California State Teachers Retirement System increased its position in Teekay Tankers Ltd. (NYSE:TNK) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,185 shares of the company’s stock after buying an additional 3,121 shares during the period. California State Teachers Retirement System owned about 0.12% of Teekay Tankers worth $1,212,000 as of its most recent filing with the SEC.
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 owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.
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