Teekay Tankers Ltd. (TNK) Hits New 1-Year Low at $2.71
Shares of Teekay Tankers Ltd. (NYSE:TNK) reached a new 52-week low during 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 traded. The stock had previously closed at $2.78.
A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Teekay Tankers from a “hold” rating to a “strong sell” rating in a report on Thursday, August 11th. Danske restated a “sell” rating on shares of Teekay Tankers in a report on Monday, August 8th. Morgan Stanley set a $3.60 price target on shares of Teekay Tankers and gave the company a “hold” rating in a report on Friday, August 5th. Vetr lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target on the stock. in a report on Wednesday, June 8th. Finally, Stifel Nicolaus lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $7.09.
The firm has a market capitalization of $427.23 million and a P/E ratio of 2.684. The company has a 50 day moving average of $2.95 and a 200-day moving average of $3.51.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. During the same period last year, the business posted $0.35 EPS. The business earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, analysts predict that Teekay Tankers Ltd. will post $0.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.63%.
An institutional investor recently raised its position 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 13F filing with the Securities and Exchange Commission. The firm 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 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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