Equities research analysts expect Teekay Tankers Ltd. (NYSE:TNK) to post sales of $145.24 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Teekay Tankers’ earnings, with estimates ranging from $136.33 million to $154.14 million. Teekay Tankers reported sales of $168.47 million during the same quarter last year, which indicates a negative year over year growth rate of 13.8%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, May 23rd.

On average, analysts expect that Teekay Tankers will report full year sales of $462.62 million for the current year, with estimates ranging from $410.29 million to $521.47 million. For the next financial year, analysts expect that the firm will report sales of $532.50 million, with estimates ranging from $478.98 million to $571.85 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Teekay Tankers.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, February 21st. The shipping company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The business had revenue of $129.10 million for the quarter, compared to analysts’ expectations of $116.66 million. Teekay Tankers had a negative net margin of 6.95% and a negative return on equity of 5.74%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share.

Several equities analysts have recently weighed in on TNK shares. Zacks Investment Research raised Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research report on Tuesday, January 15th. DNB Markets raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Finally, JPMorgan Chase & Co. downgraded Teekay Tankers from a “neutral” rating to an “underweight” rating and set a $1.00 target price on the stock. in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $1.11.

NYSE TNK traded up $0.15 on Friday, reaching $1.40. The company’s stock had a trading volume of 4,833,800 shares, compared to its average volume of 1,410,490. The stock has a market cap of $322.27 million, a P/E ratio of -7.00 and a beta of 1.18. The company has a quick ratio of 1.14, a current 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 $1.41.

Several institutional investors and hedge funds have recently bought and sold shares of TNK. Marshall Wace LLP grew its holdings in Teekay Tankers by 8.8% during the first quarter. Marshall Wace LLP now owns 964,663 shares of the shipping company’s stock worth $936,000 after acquiring an additional 77,643 shares during the period. Renaissance Technologies LLC grew its holdings in Teekay Tankers by 22.4% during the first 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. The Manufacturers Life Insurance Company grew its holdings in Teekay Tankers by 88.8% during the first quarter. The Manufacturers Life Insurance Company now owns 131,856 shares of the shipping company’s stock worth $128,000 after acquiring an additional 62,001 shares during the period. Acadian Asset Management LLC acquired a new stake in Teekay Tankers during the first quarter worth about $328,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in Teekay Tankers during the first quarter worth about $136,000. 24.69% of the stock is currently owned by institutional investors and hedge funds.

About Teekay Tankers

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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