Equities analysts expect Teekay Tankers Ltd. (NYSE:TNK) to announce earnings per share (EPS) of $2.07 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Teekay Tankers’ earnings, with the highest EPS estimate coming in at $3.28 and the lowest estimate coming in at $1.12. Teekay Tankers posted earnings per share of $0.40 in the same quarter last year, which suggests a positive year over year growth rate of 417.5%. The firm is expected to issue its next earnings report on Thursday, February 20th.
According to Zacks, analysts expect that Teekay Tankers will report full-year earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $0.88 to $2.64. For the next year, analysts expect that the business will report earnings of $4.64 per share, with EPS estimates ranging from $3.04 to $6.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Teekay Tankers.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, November 13th. The shipping company reported ($0.64) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.08. The business had revenue of $182.30 million for the quarter, compared to analyst estimates of $95.10 million. Teekay Tankers had a negative net margin of 1.19% and a negative return on equity of 0.49%. Teekay Tankers’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.56) earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in shares of Teekay Tankers by 47.3% during the second quarter. Renaissance Technologies LLC now owns 7,065,612 shares of the shipping company’s stock valued at $9,044,000 after buying an additional 2,267,400 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Teekay Tankers by 107.6% during the second quarter. Wells Fargo & Company MN now owns 2,972,612 shares of the shipping company’s stock worth $3,804,000 after purchasing an additional 1,540,766 shares during the last quarter. Carlson Capital L P grew its position in Teekay Tankers by 64.5% in the 2nd quarter. Carlson Capital L P now owns 3,150,000 shares of the shipping company’s stock worth $4,032,000 after purchasing an additional 1,235,200 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Teekay Tankers by 171.3% in the second quarter. Acadian Asset Management LLC now owns 916,134 shares of the shipping company’s stock valued at $1,173,000 after acquiring an additional 578,396 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Teekay Tankers by 73.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 939,312 shares of the shipping company’s stock valued at $1,146,000 after purchasing an additional 396,546 shares during the last quarter. Hedge funds and other institutional investors own 24.85% of the company’s stock.
TNK traded up $0.47 during midday trading on Friday, hitting $19.41. The company had a trading volume of 567,626 shares, compared to its average volume of 250,776. The stock’s 50 day moving average price is $5.56 and its 200 day moving average price is $2.31. Teekay Tankers has a 52 week low of $6.96 and a 52 week high of $21.03. The company has a market capitalization of $635.82 million, a price-to-earnings ratio of -12.13, a PEG ratio of 3.98 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 0.98.
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.
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