Brokers expect Teekay Tankers Ltd. (NYSE:TNK- Get a rating) to show sales of $111.72 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made earnings estimates for Teekay Tankers. The lowest sales estimate is $108.20 million and the highest is $115.24 million. Teekay Tankers recorded sales of $51.65 million in the same quarter last year, suggesting a positive year-over-year growth rate of 116.3%. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect Teekay Tankers to record annual revenue of $382.88 million for the current fiscal year, with estimates ranging from $380.05 to $385.70 million. For next year, analysts expect the company to record sales of $407.35 million, with estimates ranging from $374.99 million to $439.70 million. Zacks sales averages are an average average based on a survey of research analysts who follow Teekay Tankers.
Teekay Tankers (NYSE: TNK – Get a rating) last reported quarterly earnings data on Thursday, May 12. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.61) by $0.20. Teekay Tankers had a negative net margin of 40.96% and a negative return on equity of 15.05%. The company posted revenue of $174.00 million in the quarter, versus analyst estimates of $61.06 million. In the same quarter a year earlier, the company posted ($0.65) earnings per share. Teekay Tankers quarterly revenue increased 21.8% year over year.
A number of brokerages have recently released reports on TNK. StockNews.com began covering Teekay Tankers stock in a report on Thursday, March 31. They issued a “sell” rating for the company. Zacks Investment Research downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a Tuesday, May 17 report. Finally, Jefferies Financial Group launched a hedge on the shares of Teekay Tankers in a research report on Wednesday, April 27. They issued a “buy” rating on the stock.
Shares of TNK opened at $20.15 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt ratio of 0.64. Teekay Tankers has a 12 month minimum of $9.89 and a 12 month maximum of $22.10. The company has a 50-day moving average price of $17.67 and a 200-day moving average price of $13.88. The company has a market capitalization of $679.82 million, a P/E ratio of -2.90, a P/E/G ratio of 9.91 and a beta of -0.25.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Teekay Tankers by 2.0% in the fourth quarter. BlackRock Inc. now owns 1,268,793 shares of the shipping company valued at $13,830,000 after buying an additional 24,671 shares in the last quarter. State Street Corp increased its position in Teekay Tankers by 41.3% in the first quarter. State Street Corp now owns 436,178 shares of the shipping company valued at $6,037,000 after buying an additional 127,480 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Teekay Tankers by 12.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 378,620 shares of the shipping company valued at $5,241,000 after buying an additional 42,928 shares in the last quarter. Morgan Stanley increased its position in Teekay Tankers shares by 12.1% during the third quarter. Morgan Stanley now owns 272,829 shares of the shipping company worth $3,963,000 after buying an additional 29,494 shares last quarter. Finally, JPMorgan Chase & Co. increased its position in Teekay Tankers shares by 18.4% during the first quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company worth $3,590,000 after buying an additional 40,309 shares last quarter. 28.74% of the shares are currently held by institutional investors.
About Teekay Tankers (Get a rating)
Teekay Tankers Ltd. provides shipping services to the petroleum industries in Bermuda and overseas. The Company offers travel and time charter services; and offshore ship-to-ship transfer services of commodities, primarily crude oil and refined petroleum products, as well as liquid gases and various other products.
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