Wall Street analysts expect Teekay Tankers Ltd. (NYSE:TNK) to post ($0.11) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Teekay Tankers’ earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at ($0.08). Teekay Tankers reported earnings per share of ($0.08) during the same quarter last year, which suggests a negative year over year growth rate of 37.5%. The firm is scheduled to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Teekay Tankers will report full-year earnings of ($0.35) per share for the current fiscal year, with EPS estimates ranging from ($0.44) to ($0.29). For the next financial year, analysts anticipate that the business will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.33) to $0.01. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Teekay Tankers.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, August 2nd. The shipping company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Teekay Tankers had a negative return on equity of 7.43% and a negative net margin of 13.20%. The business had revenue of $84.70 million for the quarter, compared to the consensus estimate of $77.53 million. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis.

Several analysts have recently issued reports on TNK shares. ValuEngine upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Wells Fargo & Co raised shares of Teekay Tankers from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. Morgan Stanley lifted their target price on shares of Teekay Tankers from $1.10 to $1.30 and gave the stock an “equal weight” rating in a research note on Wednesday, June 13th. Finally, Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Teekay Tankers presently has an average rating of “Hold” and a consensus price target of $1.65.

Shares of TNK traded up $0.01 during midday trading on Tuesday, hitting $1.02. 9,329 shares of the company traded hands, compared to its average volume of 810,691. Teekay Tankers has a 52 week low of $0.94 and a 52 week high of $1.95. The company has a market capitalization of $276.61 million, a PE ratio of -9.27 and a beta of 1.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.96.

A number of hedge funds have recently modified their holdings of TNK. Banco de Sabadell S.A purchased a new position in Teekay Tankers during the 1st quarter worth $181,000. Wells Fargo & Company MN raised its stake in shares of Teekay Tankers by 41.4% in the first quarter. Wells Fargo & Company MN now owns 344,134 shares of the shipping company’s stock valued at $409,000 after purchasing an additional 100,748 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Teekay Tankers in the second quarter valued at $583,000. Arnhold LLC acquired a new position in shares of Teekay Tankers in the first quarter valued at $669,000. Finally, Rhumbline Advisers raised its stake in shares of Teekay Tankers by 394.7% in the first quarter. Rhumbline Advisers now owns 736,612 shares of the shipping company’s stock valued at $877,000 after purchasing an additional 587,700 shares in the last quarter. 25.72% of the stock is currently owned by institutional investors.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.

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

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