Teekay Tankers (NYSE:TNK) Announces Earnings Results

Teekay Tankers (NYSE:TNKGet Rating) announced its quarterly earnings data on Thursday. The shipping company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.43, Briefing.com reports. The business had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $109.04 million. Teekay Tankers had a negative net margin of 40.96% and a negative return on equity of 15.05%. The business’s revenue was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.23) earnings per share.

Teekay Tankers Stock Performance

TNK traded up $0.12 during mid-day trading on Friday, reaching $22.79. 428,288 shares of the company traded hands, compared to its average volume of 383,212. The company’s fifty day moving average price is $19.31 and its 200-day moving average price is $15.97. The stock has a market capitalization of $768.89 million, a P/E ratio of -3.29, a P/E/G ratio of 151.27 and a beta of -0.03. The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Teekay Tankers has a 52-week low of $9.89 and a 52-week high of $23.52.

Institutional Trading of Teekay Tankers

A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in Teekay Tankers during the first quarter valued at about $159,000. PDT Partners LLC bought a new stake in Teekay Tankers during the first quarter valued at about $185,000. Goldman Sachs Group Inc. bought a new stake in Teekay Tankers during the first quarter valued at about $198,000. Renaissance Technologies LLC bought a new position in shares of Teekay Tankers in the first quarter worth about $238,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Teekay Tankers in the first quarter worth about $346,000. Hedge funds and other institutional investors own 28.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TNK shares. Clarkson Capital reiterated a “buy” rating on shares of Teekay Tankers in a research note on Tuesday, June 14th. StockNews.com downgraded shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Finally, Jefferies Financial Group upped their target price on shares of Teekay Tankers from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday.

Teekay Tankers Company Profile

(Get Rating)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

See Also

Earnings History for Teekay Tankers (NYSE:TNK)

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