Shares of Teekay Tankers Ltd. (NYSE: TNK – Get a rating) received an average rating of “Hold” from the six brokerages that cover the business, Market assessments reports. Two equity research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The 12-month average price target among brokerages that have covered the stock over the past year is $21.00.
Several equity research analysts have published reports on TNK shares. Jefferies Financial Group began covering Teekay Tankers in a report on Wednesday. They issued a “buy” rating for the company. Zacks Investment Research downgraded Teekay Tankers from a “hold” rating to a “sell” rating in a report released Wednesday. To finish, StockNews.com began covering Teekay Tankers in a report on Thursday, March 31. They set a “sell” rating for the company.
A number of hedge funds and other institutional investors have recently changed their holdings in TNK. Wilen Investment Management CORP. acquired a new position in Teekay Tankers during the third quarter worth approximately $44,000. Royal Bank of Canada increased its position in shares of Teekay Tankers by 48.2% in the second quarter. Royal Bank of Canada now owns 4,282 shares of the shipping company valued at $62,000 after buying an additional 1,392 shares in the last quarter. Wells Fargo & Company MN increased its position in Teekay Tankers shares by 32.5% in the second quarter. Wells Fargo & Company MN now owns 4,997 shares of the shipping company valued at $72,000 after buying an additional 1,225 shares in the last quarter. Citigroup Inc. increased its position in shares of Teekay Tankers by 457.8% in the third quarter. Citigroup Inc. now owns 6,331 shares of the shipping company valued at $92,000 after buying an additional 5,196 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new equity stake in Teekay Tankers in the third quarter valued at approximately $209,000. 28.74% of the shares are held by hedge funds and other institutional investors.
Shares of Stock Teekay Tankers traded at $0.35 during Wednesday trading hours, hitting $16.07. The company’s shares had a trading volume of 2,540 shares, compared to an average volume of 365,269. Teekay Tankers has a 12-month low of $9.89 and a 12-month high of $17.63. The stock has a 50-day simple moving average of $14.23. The company has a market capitalization of $542.17 million, a P/E ratio of -2.28 and a beta of -0.13. The company has a quick ratio of 1.25, a current ratio of 1.56 and a leverage ratio of 0.68.
Teekay Tankers (NYSE: TNK – Get a rating) last announced its quarterly results on Thursday, February 24. The shipping company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.10. Teekay Tankers had a negative return on equity of 14.97% and a negative net margin of 44.69%. The company posted revenue of $160.30 million in the quarter, versus a consensus estimate of $64.78 million. During the same period of the previous year, the company made ($1.21) earnings per share. The company’s revenue for the quarter increased 25.4% compared to the same quarter last year. As a group, research analysts expect Teekay Tankers to post -1.04 earnings per share for the current fiscal year.
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 goods, primarily crude oil and refined petroleum products, as well as liquid gases and various other products.
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