Teekay Tankers (NYSE:TNK) Posts Earnings Results, Beats Expectations By $0.43 EPS

Teekay Tankers (NYSE:TNKGet Rating) issued its quarterly earnings data on Thursday. The shipping company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.43, Briefing.com reports. Teekay Tankers had a negative return on equity of 7.49% and a negative net margin of 11.15%. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $109.04 million. During the same quarter last year, the business posted ($1.23) earnings per share. The firm’s revenue was up 96.4% compared to the same quarter last year.

Teekay Tankers Stock Up 0.5 %

NYSE TNK opened at $22.79 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.92. Teekay Tankers has a 1 year low of $9.89 and a 1 year high of $23.52. The business’s 50-day moving average is $19.34 and its 200 day moving average is $16.04.

Analyst Ratings Changes

A number of brokerages recently issued reports on TNK. TheStreet upgraded Teekay Tankers from a “d+” rating to a “c-” rating in a research report on Thursday. Jefferies Financial Group increased their target price on Teekay Tankers from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday. Clarkson Capital reissued a “buy” rating on shares of Teekay Tankers in a research note on Tuesday, June 14th. Finally, StockNews.com raised Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Trading of Teekay Tankers

Several institutional investors and hedge funds have recently bought and sold shares of TNK. NewEdge Advisors LLC purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $159,000. PDT Partners LLC purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $185,000. Goldman Sachs Group Inc. purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $198,000. Renaissance Technologies LLC purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $238,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $346,000. 28.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History for Teekay Tankers (NYSE:TNK)

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