$2.07 Earnings Per Share Expected for Teekay Tankers Ltd. (NYSE:TNK) This Quarter

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.

A number of equities analysts have recently issued reports on the stock. ValuEngine cut shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Bank of America raised Teekay Tankers from an “underperform” rating to a “buy” rating in a research report on Wednesday, November 27th. Zacks Investment Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research note on Friday, October 4th. Jefferies Financial Group upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI reissued a “buy” rating and issued a $28.00 price objective on shares of Teekay Tankers in a research note on Sunday, November 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.00.

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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Earnings History and Estimates for Teekay Tankers (NYSE:TNK)

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