Teekay Tankers (TNK) Releases Earnings Results, Meets Expectations
Teekay Tankers (NYSE:TNK) issued its earnings results on Thursday. The shipping company reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05, Morningstar.com reports. The company had revenue of $135.16 million for the quarter, compared to analysts’ expectations of $141.14 million. Teekay Tankers had a negative net margin of 6.95% and a negative return on equity of 5.74%. Teekay Tankers’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS.
Shares of NYSE:TNK opened at $1.26 on Friday. The firm has a market cap of $338.38 million, a PE ratio of -6.30, a price-to-earnings-growth ratio of 46.33 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.04. Teekay Tankers has a 52 week low of $0.87 and a 52 week high of $1.42.
Several large investors have recently modified their holdings of TNK. BlackRock Inc. lifted its holdings in shares of Teekay Tankers by 73.5% during the third quarter. BlackRock Inc. now owns 16,771,399 shares of the shipping company’s stock worth $16,567,000 after purchasing an additional 7,102,870 shares during the period. GSA Capital Partners LLP bought a new stake in Teekay Tankers during the 4th quarter worth approximately $1,791,000. Renaissance Technologies LLC increased its holdings in Teekay Tankers by 22.4% during the 1st quarter. Renaissance Technologies LLC now owns 4,798,212 shares of the shipping company’s stock worth $4,655,000 after acquiring an additional 878,000 shares during the period. Morgan Stanley increased its holdings in Teekay Tankers by 75.6% during the 1st quarter. Morgan Stanley now owns 1,383,572 shares of the shipping company’s stock worth $1,342,000 after acquiring an additional 595,589 shares during the period. Finally, 683 Capital Management LLC bought a new stake in Teekay Tankers during the 4th quarter worth approximately $464,000. Institutional investors own 22.90% of the company’s stock.
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About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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