Q1 2018 Earnings Estimate for Teekay Tankers Ltd. Issued By Seaport Global Securities (NYSE:TNK)
Teekay Tankers Ltd. (NYSE:TNK) – Equities researchers at Seaport Global Securities lowered their Q1 2018 EPS estimates for Teekay Tankers in a report issued on Monday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will earn $0.10 per share for the quarter, down from their prior estimate of $0.11. Seaport Global Securities also issued estimates for Teekay Tankers’ FY2018 earnings at $0.43 EPS.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet cut Teekay Tankers from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. BidaskClub raised Teekay Tankers from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine cut Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, UBS AG reissued a “sell” rating and set a $1.50 price objective (down from $2.00) on shares of Teekay Tankers in a report on Friday, June 9th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $2.31.
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Teekay Tankers (NYSE:TNK) traded down 1.82% during mid-day trading on Tuesday, reaching $1.62. 606,226 shares of the company traded hands. Teekay Tankers has a 52-week low of $1.62 and a 52-week high of $3.09. The company has a market capitalization of $267.95 million, a P/E ratio of 9.59 and a beta of 2.24. The stock has a 50 day moving average price of $1.75 and a 200-day moving average price of $2.05.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $89.40 million for the quarter, compared to analysts’ expectations of $80.68 million. Teekay Tankers had a negative net margin of 7.38% and a positive return on equity of 0.39%. The firm’s quarterly revenue was down 36.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Teekay Tankers by 21.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,889,137 shares of the shipping company’s stock worth $12,073,000 after buying an additional 1,042,375 shares in the last quarter. State Street Corp boosted its position in Teekay Tankers by 5.1% in the fourth quarter. State Street Corp now owns 1,778,927 shares of the shipping company’s stock worth $4,021,000 after buying an additional 85,736 shares in the last quarter. California Public Employees Retirement System boosted its position in Teekay Tankers by 1,094.2% in the first quarter. California Public Employees Retirement System now owns 1,507,130 shares of the shipping company’s stock worth $3,090,000 after buying an additional 1,380,930 shares in the last quarter. Schroder Investment Management Group boosted its position in Teekay Tankers by 2.6% in the first quarter. Schroder Investment Management Group now owns 1,195,400 shares of the shipping company’s stock worth $2,498,000 after buying an additional 29,800 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Teekay Tankers by 30.2% in the first quarter. TIAA CREF Investment Management LLC now owns 938,588 shares of the shipping company’s stock worth $1,924,000 after buying an additional 217,673 shares in the last quarter. 41.50% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 14th will be issued a $0.03 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 7.27%. Teekay Tankers’s dividend payout ratio is -63.16%.
About Teekay Tankers
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 has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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