-$0.08 EPS Expected for Teekay Tankers Ltd. (TNK) This Quarter
Wall Street analysts expect Teekay Tankers Ltd. (NYSE:TNK) to report earnings per share of ($0.08) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Teekay Tankers’ earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.10). Teekay Tankers reported earnings of ($0.01) per share in the same quarter last year, which indicates a negative year over year growth rate of 700%. The business is scheduled to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that Teekay Tankers will report full year earnings of ($0.05) per share for the current year, with EPS estimates ranging from ($0.10) to $0.04. For the next financial year, analysts anticipate that the business will report earnings of $0.19 per share, with EPS estimates ranging from ($0.09) to $0.43. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Teekay Tankers.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Teekay Tankers had a positive return on equity of 0.39% and a negative net margin of 7.38%. The business had revenue of $89.40 million for the quarter, compared to analysts’ expectations of $80.68 million. During the same quarter in the prior year, the business earned $0.20 EPS. The firm’s revenue for the quarter was down 36.0% on a year-over-year basis.
Several research analysts have weighed in on the company. TheStreet cut Teekay Tankers from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. BidaskClub raised Teekay Tankers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine cut Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Bank of America Corporation reissued an “underperform” rating and issued a $1.80 price objective (down previously from $2.25) on shares of Teekay Tankers in a research report on Wednesday, May 17th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.31.
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Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Teekay Tankers by 5.1% in the fourth quarter. State Street Corp now owns 1,778,927 shares of the shipping company’s stock valued at $4,021,000 after buying an additional 85,736 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Teekay Tankers by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,846,762 shares of the shipping company’s stock valued at $10,954,000 after buying an additional 273,093 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Teekay Tankers during the fourth quarter valued at about $476,000. Teachers Advisors LLC raised its stake in shares of Teekay Tankers by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 217,200 shares of the shipping company’s stock valued at $491,000 after buying an additional 10,163 shares during the last quarter. Finally, James Investment Research Inc. raised its stake 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 valued at $655,000 after buying an additional 1,540 shares during the last quarter. Hedge funds and other institutional investors own 40.58% of the company’s stock.
Teekay Tankers (TNK) traded down 4.52% during midday trading on Wednesday, reaching $1.48. The company had a trading volume of 1,722,182 shares. Teekay Tankers has a 12-month low of $1.47 and a 12-month high of $2.91. The firm’s market capitalization is $251.55 million. The stock’s 50 day moving average is $1.73 and its 200 day moving average is $2.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 14th will be paid a $0.03 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.12 annualized dividend and a dividend yield of 7.74%. Teekay Tankers’s payout ratio is presently -63.16%.
About Teekay Tankers
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.
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