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.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Wednesday, January 30th. DNB Markets upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Finally, JPMorgan Chase & Co. lowered shares of Teekay Tankers from a “neutral” rating to an “underweight” rating and set a $1.00 price target on the stock. in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Teekay Tankers presently has an average rating of “Hold” and a consensus target price of $1.11.

WARNING: This piece of content was first posted by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/teekay-tankers-tnk-releases-earnings-results-meets-expectations/3021851.html.

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.

Recommended Story: Why do companies pay special dividends?

Earnings History for Teekay Tankers (NYSE:TNK)

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.