Teekay Tankers Ltd. (TNK) Receives $2.37 Consensus Price Target from Brokerages
Teekay Tankers Ltd. (NYSE:TNK) has been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. 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 average 12-month target price among analysts that have issued a report on the stock in the last year is $2.37.
Several research firms have recently issued reports on TNK. UBS AG reissued a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of Teekay Tankers in a research report on Friday, June 9th. TheStreet lowered shares of Teekay Tankers from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. ValuEngine lowered shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised shares of Teekay Tankers from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd.
A number of hedge funds have recently bought and sold shares of TNK. American International Group Inc. raised its stake in Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares during the period. Schroder Investment Management Group raised its stake 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 during the period. JPMorgan Chase & Co. raised its stake in Teekay Tankers by 2,453.3% in the first quarter. JPMorgan Chase & Co. now owns 79,636 shares of the shipping company’s stock worth $163,000 after buying an additional 76,517 shares during the period. Parametric Portfolio Associates LLC raised its stake in Teekay Tankers by 19.0% in the first quarter. Parametric Portfolio Associates LLC now owns 146,641 shares of the shipping company’s stock worth $301,000 after buying an additional 23,438 shares during the period. Finally, TFS Capital LLC raised its stake in Teekay Tankers by 21.4% in the first quarter. TFS Capital LLC now owns 125,293 shares of the shipping company’s stock worth $257,000 after buying an additional 22,054 shares during the period. 40.58% of the stock is currently owned by institutional investors and hedge funds.
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Teekay Tankers (NYSE:TNK) traded down 0.68% on Tuesday, reaching $1.45. 1,831,599 shares of the company’s stock traded hands. The stock’s market cap is $246.45 million. The company’s 50 day moving average is $1.69 and its 200-day moving average is $1.99. Teekay Tankers has a 52-week low of $1.44 and a 52-week high of $2.91.
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). Teekay Tankers had a negative net margin of 7.38% and a positive return on equity of 0.39%. The company had revenue of $89.40 million for the quarter, compared to analyst estimates of $80.68 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was down 36.0% compared to the same quarter last year. Equities analysts expect that Teekay Tankers will post ($0.20) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 14th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date of this dividend was Thursday, August 10th. Teekay Tankers’s dividend payout ratio (DPR) is presently -63.16%.
Teekay Tankers Company Profile
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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