Teekay Tankers Ltd. (TNK) Shares Down 1.9%
Teekay Tankers Ltd. (NYSE:TNK)’s share price fell 1.9% on Thursday . The company traded as low as $2.51 and last traded at $2.56, with a volume of 1,187,550 shares. The stock had previously closed at $2.61.
A number of brokerages recently weighed in on TNK. Seaport Global Securities began coverage on shares of Teekay Tankers in a research note on Wednesday, May 4th. They set a “buy” rating and a $6.00 target price for the company. Vetr cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target for the company. in a report on Wednesday, June 8th. Bank of America Corp. cut shares of Teekay Tankers from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $3.00 to $3.57 in a report on Friday, May 20th. DNB Markets cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Finally, Clarkson Capital restated a “buy” rating and issued a $12.00 price target on shares of Teekay Tankers in a report on Thursday, May 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Teekay Tankers presently has an average rating of “Hold” and a consensus price target of $7.00.
The firm has a 50-day moving average of $2.91 and a 200-day moving average of $3.46. The stock has a market cap of $397.00 million and a price-to-earnings ratio of 2.49.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $139.62 million for the quarter, compared to the consensus estimate of $131.06 million. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, equities analysts predict that Teekay Tankers Ltd. will post $0.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors 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 dividend on an annualized basis and a yield of 9.45%.
A hedge fund recently raised its stake in Teekay Tankers stock. Wells Fargo & Company MN boosted its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.87% of Teekay Tankers worth $9,107,000 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.