Teekay Tankers Ltd. (TNK) Reaches New 1-Year Low at $2.71
Teekay Tankers Ltd. (NYSE:TNK)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.71 and last traded at $2.72, with a volume of 1,064,178 shares trading hands. The stock had previously closed at $2.78.
A number of equities analysts recently issued reports on TNK shares. Zacks Investment Research downgraded Teekay Tankers from a “hold” rating to a “strong sell” rating in a report on Thursday, August 11th. Danske reaffirmed a “sell” rating on shares of Teekay Tankers in a report on Monday, August 8th. Morgan Stanley set a $3.60 price target on Teekay Tankers and gave the company a “hold” rating in a report on Friday, August 5th. Clarkson Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of Teekay Tankers in a report on Thursday, May 19th. Finally, Stifel Nicolaus downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Teekay Tankers currently has an average rating of “Hold” and a consensus target price of $7.00.
The firm has a 50 day moving average of $2.94 and a 200 day moving average of $3.49. The company has a market capitalization of $415.51 million and a PE ratio of 2.61.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $139.62 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Teekay Tankers’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, analysts anticipate that Teekay Tankers Ltd. will post $0.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.24 annualized dividend and a yield of 9.02%.
A hedge fund recently raised its stake in Teekay Tankers stock. Wells Fargo & Company MN raised its stake in Teekay Tankers Ltd. (NYSE:TNK) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,323,732 shares of the company’s stock after buying an additional 294,393 shares during the period. Wells Fargo & Company MN owned about 0.87% of Teekay Tankers worth $9,107,000 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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