Brokers Set Expectations for Teekay Tankers Ltd.’s Q1 2018 Earnings (NYSE:TNK)

Teekay Tankers Ltd. (NYSE:TNK) – Stock analysts at Seaport Global Securities cut their Q1 2018 EPS estimates for Teekay Tankers in a research note issued to investors on Monday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will earn $0.10 per share for the quarter, down from their previous forecast of $0.11. Seaport Global Securities also issued estimates for Teekay Tankers’ FY2018 earnings at $0.43 EPS.

TNK has been the subject of several other research reports. BidaskClub cut shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research note on Wednesday, July 19th. Bank of America Corporation reiterated an “underperform” rating and issued a $1.80 price objective (down previously from $2.25) on shares of Teekay Tankers in a research note on Wednesday, May 17th. ValuEngine cut shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, TheStreet cut shares of Teekay Tankers from a “c” rating to a “d+” rating in a research note on Thursday, August 3rd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.31.

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Teekay Tankers (NYSE:TNK) traded up 0.299% during mid-day trading on Tuesday, hitting $1.675. 231,409 shares of the stock were exchanged. The company has a 50-day moving average price of $1.76 and a 200-day moving average price of $2.05. The company has a market cap of $277.04 million, a P/E ratio of 9.911 and a beta of 2.24. Teekay Tankers has a one year low of $1.65 and a one year high of $3.12.

Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, August 3rd. The shipping company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $89.40 million during the quarter, compared to analysts’ expectations of $80.68 million. Teekay Tankers had a negative net margin of 7.38% and a positive return on equity of 0.39%. The company’s quarterly revenue was down 36.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share.

Institutional investors have recently made changes to their positions in the company. James Investment Research Inc. boosted its position in shares of Teekay Tankers by 0.5% in the first quarter. James Investment Research Inc. now owns 319,330 shares of the shipping company’s stock worth $655,000 after buying an additional 1,540 shares during the last quarter. American International Group Inc. boosted its position in shares of Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares during the last quarter. Loews Corp boosted its position in shares of Teekay Tankers by 9.7% in the first quarter. Loews Corp now owns 74,790 shares of the shipping company’s stock worth $153,000 after buying an additional 6,600 shares during the last quarter. Creative Planning boosted its position in shares of Teekay Tankers by 7.8% in the second quarter. Creative Planning now owns 98,857 shares of the shipping company’s stock worth $186,000 after buying an additional 7,173 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Teekay Tankers by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 393,015 shares of the shipping company’s stock worth $739,000 after buying an additional 9,066 shares during the last quarter. Institutional investors own 41.50% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 14th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date of this dividend is Thursday, August 10th. Teekay Tankers’s payout ratio is currently -63.16%.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.

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

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