Teekay Tankers (TNK) Issues Quarterly Earnings Results

Teekay Tankers (NYSE:TNK) announced its quarterly earnings results on Thursday. The shipping company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05, Morningstar.com reports. The company had revenue of $135.16 million for the quarter, compared to the consensus estimate of $141.14 million. Teekay Tankers had a negative return on equity of 5.74% and a negative net margin of 6.95%. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS.

NYSE:TNK opened at $1.22 on Friday. The firm has a market capitalization of $341.07 million, a price-to-earnings ratio of -6.10, a price-to-earnings-growth ratio of 46.33 and a beta of 1.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.14 and a quick ratio of 1.14. Teekay Tankers has a 52 week low of $0.87 and a 52 week high of $1.42.

TNK has been the topic of several analyst reports. Zacks Investment Research raised Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Wednesday, January 30th. DNB Markets raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Finally, JPMorgan Chase & Co. downgraded Teekay Tankers from a “neutral” rating to an “underweight” rating and set a $1.00 price target on the stock. in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Teekay Tankers presently has an average rating of “Hold” and a consensus target price of $1.11.



Several large investors have recently bought and sold shares of TNK. BlackRock Inc. lifted its position in shares of Teekay Tankers by 1.0% during the 4th quarter. BlackRock Inc. now owns 16,936,909 shares of the shipping company’s stock worth $15,716,000 after purchasing an additional 165,510 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Teekay Tankers by 22.4% during the 1st quarter. Renaissance Technologies LLC now owns 4,798,212 shares of the shipping company’s stock worth $4,655,000 after purchasing an additional 878,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Teekay Tankers during the 4th quarter worth $1,791,000. Morgan Stanley lifted its position in shares of Teekay Tankers by 75.6% during the 1st quarter. Morgan Stanley now owns 1,383,572 shares of the shipping company’s stock worth $1,342,000 after purchasing an additional 595,589 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Teekay Tankers by 8.8% during the 1st quarter. Marshall Wace LLP now owns 964,663 shares of the shipping company’s stock worth $936,000 after purchasing an additional 77,643 shares during the last quarter. Institutional investors and hedge funds own 22.90% of the company’s stock.

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About Teekay Tankers

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

Further Reading: Debt-To-Equity Ratio

Earnings History for Teekay Tankers (NYSE:TNK)

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