Brokerages Anticipate Teekay Tankers Ltd. (TNK) Will Announce Quarterly Sales of $91.38 Million
Analysts forecast that Teekay Tankers Ltd. (NYSE:TNK) will report sales of $91.38 million for the current quarter, according to Zacks. Five analysts have provided estimates for Teekay Tankers’ earnings, with estimates ranging from $73.00 million to $116.70 million. Teekay Tankers posted sales of $117.70 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.4%. The business is scheduled to issue its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Teekay Tankers will report full-year sales of $91.38 million for the current fiscal year, with estimates ranging from $344.81 million to $399.60 million. For the next financial year, analysts expect that the business will report sales of $439.29 million per share, with estimates ranging from $294.00 million to $552.10 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Teekay Tankers.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $91.20 million for the quarter, compared to analyst estimates of $68.67 million. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. Teekay Tankers’s revenue was down 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS.
Several analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a report on Friday, November 10th. Zacks Investment Research raised Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus price target of $1.60.
Shares of Teekay Tankers (NYSE TNK) traded up $0.02 on Friday, reaching $1.51. 1,219,280 shares of the company traded hands, compared to its average volume of 1,338,513. Teekay Tankers has a 12-month low of $1.37 and a 12-month high of $2.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.67 and a current ratio of 0.67.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Monday, November 20th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 7.95%. The ex-dividend date was Friday, November 17th. Teekay Tankers’s dividend payout ratio is currently -42.86%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its position in Teekay Tankers by 21.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 9,526 shares in the last quarter. Voya Investment Management LLC grew its position in Teekay Tankers by 26.3% in the 2nd quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after acquiring an additional 13,167 shares in the last quarter. Nationwide Fund Advisors grew its position in Teekay Tankers by 10.4% in the 2nd quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 7,500 shares in the last quarter. Loews Corp grew its position in Teekay Tankers by 17.6% in the 2nd quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock valued at $165,000 after acquiring an additional 13,200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Teekay Tankers by 16.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock valued at $202,000 after acquiring an additional 15,304 shares in the last quarter. 35.91% of the stock is owned by institutional investors.
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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