Equities analysts predict that Teekay Tankers Ltd. (NYSE:TNK) will report $114.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Teekay Tankers’ earnings. The highest sales estimate is $122.00 million and the lowest is $107.35 million. Teekay Tankers reported sales of $105.23 million during the same quarter last year, which would suggest a positive year over year growth rate of 9%. The business is scheduled to report its next quarterly earnings report on Thursday, February 28th.

On average, analysts expect that Teekay Tankers will report full year sales of $397.38 million for the current fiscal year, with estimates ranging from $340.20 million to $542.63 million. For the next fiscal year, analysts anticipate that the firm will post sales of $433.34 million, with estimates ranging from $386.50 million to $471.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Teekay Tankers.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, November 15th. The shipping company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.04. Teekay Tankers had a negative net margin of 10.61% and a negative return on equity of 7.71%. The firm had revenue of $92.87 million for the quarter, compared to analyst estimates of $82.95 million.

TNK has been the topic of a number of recent research reports. Wells Fargo & Co reiterated a “buy” rating on shares of Teekay Tankers in a report on Thursday, August 23rd. Jefferies Financial Group initiated coverage on shares of Teekay Tankers in a report on Monday, October 1st. They issued a “hold” rating and a $1.00 price objective on the stock. ValuEngine upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a report on Wednesday, November 21st. Finally, DNB Markets downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, November 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $1.43.

TNK traded down $0.04 during trading on Friday, reaching $1.13. The company had a trading volume of 1,255,222 shares, compared to its average volume of 1,891,696. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.99. Teekay Tankers has a 12 month low of $0.94 and a 12 month high of $1.62. The firm has a market cap of $303.47 million, a P/E ratio of -10.27 and a beta of 1.43.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in shares of Teekay Tankers by 24.0% in the third quarter. Renaissance Technologies LLC now owns 2,733,010 shares of the shipping company’s stock valued at $2,700,000 after purchasing an additional 529,500 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Teekay Tankers during the third quarter worth $134,000. BlackRock Inc. increased its holdings in 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 buying an additional 7,102,870 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Teekay Tankers by 20.8% during the third quarter. JPMorgan Chase & Co. now owns 556,705 shares of the shipping company’s stock worth $550,000 after buying an additional 95,879 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Teekay Tankers during the second quarter worth $583,000. Institutional investors own 26.08% of the company’s stock.

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.

Recommended Story: What is Liquidity?

Get a free copy of the Zacks research report on Teekay Tankers (TNK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.