Zacks: Brokerages Anticipate Teekay Tankers Ltd. (TNK) Will Post Quarterly Sales of $114.66 Million
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 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.
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