Brokerages Expect Teekay Tankers Ltd. (TNK) to Post -$0.05 EPS
Wall Street brokerages predict that Teekay Tankers Ltd. (NYSE:TNK) will post earnings per share (EPS) of ($0.05) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Teekay Tankers’ earnings, with estimates ranging from ($0.09) to ($0.04). Teekay Tankers reported earnings of $0.03 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 266.7%. The firm is scheduled to announce its next earnings report on Thursday, February 22nd.
On average, analysts expect that Teekay Tankers will report full year earnings of ($0.15) per share for the current year, with EPS estimates ranging from ($0.20) to ($0.12). For the next financial year, analysts forecast that the company will report earnings of ($0.01) per share, with EPS estimates ranging from ($0.24) to $0.14. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Teekay Tankers.
Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The company had revenue of $91.20 million for the quarter, compared to analysts’ expectations of $68.67 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis.
A number of research firms have weighed in on TNK. Bank of America cut their price objective on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a report on Friday, November 10th. Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Seaport Global Securities set a $3.00 price objective on shares of Teekay Tankers and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Teekay Tankers has an average rating of “Hold” and an average price target of $1.95.
Shares of Teekay Tankers (TNK) opened at $1.35 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.73. Teekay Tankers has a 1-year low of $1.30 and a 1-year high of $2.70. The firm has a market cap of $362.07, a P/E ratio of -4.82, a price-to-earnings-growth ratio of 103.85 and a beta of 2.29.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Huber Capital Management LLC grew its position in shares of Teekay Tankers by 12.4% during the second quarter. Huber Capital Management LLC now owns 14,563,834 shares of the shipping company’s stock worth $27,380,000 after acquiring an additional 1,602,809 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Teekay Tankers by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,215,008 shares of the shipping company’s stock worth $11,684,000 after acquiring an additional 325,871 shares during the last quarter. Northern Trust Corp grew its position in shares of Teekay Tankers by 75.7% during the second quarter. Northern Trust Corp now owns 3,096,347 shares of the shipping company’s stock worth $5,821,000 after acquiring an additional 1,334,417 shares during the last quarter. State Street Corp grew its position in shares of Teekay Tankers by 9.6% during the second quarter. State Street Corp now owns 1,952,507 shares of the shipping company’s stock worth $3,671,000 after acquiring an additional 170,377 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Teekay Tankers by 10.2% during the second quarter. Schroder Investment Management Group now owns 1,317,500 shares of the shipping company’s stock worth $2,491,000 after acquiring an additional 122,100 shares during the last quarter. Institutional investors and hedge funds own 28.35% of the company’s stock.
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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