Teekay Tankers Ltd. (TNK) Expected to Post Quarterly Sales of $119.53 Million

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Wall Street analysts expect that Teekay Tankers Ltd. (NYSE:TNK) will post sales of $119.53 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Teekay Tankers’ earnings, with the highest sales estimate coming in at $126.81 million and the lowest estimate coming in at $111.18 million. Teekay Tankers posted sales of $105.23 million during the same quarter last year, which indicates a positive year over year growth rate of 13.6%. The firm is expected to issue its next earnings report before the market opens on Thursday, February 21st.

According to Zacks, analysts expect that Teekay Tankers will report full year sales of $401.97 million for the current year, with estimates ranging from $340.20 million to $542.63 million. For the next fiscal year, analysts anticipate that the company will post sales of $436.10 million, with estimates ranging from $386.50 million to $471.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Teekay Tankers.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, November 15th. The shipping company reported ($0.07) earnings per share (EPS) 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 company had revenue of $92.87 million for the quarter, compared to analysts’ expectations of $82.95 million.

A number of research analysts have issued reports on TNK shares. DNB Markets lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. ValuEngine upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Finally, Wells Fargo & Co decreased their target price on shares of Teekay Tankers from $1.65 to $1.40 and set an “outperform” rating on the stock in a research report on Tuesday, November 20th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $1.11.

TNK traded up $0.01 on Friday, reaching $0.93. The company had a trading volume of 11,163 shares, compared to its average volume of 850,842. Teekay Tankers has a fifty-two week low of $0.87 and a fifty-two week high of $1.36. The firm has a market cap of $253.01 million, a P/E ratio of -8.56, a price-to-earnings-growth ratio of 8.05 and a beta of 1.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.99 and a current ratio of 0.99.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Teekay Tankers by 1.0% in the 4th quarter. BlackRock Inc. now owns 16,936,909 shares of the shipping company’s stock valued at $15,716,000 after purchasing an additional 165,510 shares during the last quarter. Essex Financial Services Inc. lifted its stake in Teekay Tankers by 954.5% in the 4th quarter. Essex Financial Services Inc. now owns 116,000 shares of the shipping company’s stock valued at $108,000 after purchasing an additional 105,000 shares during the last quarter. SG Americas Securities LLC lifted its stake in Teekay Tankers by 92.6% in the 4th quarter. SG Americas Securities LLC now owns 36,974 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 17,779 shares during the last quarter. Rhumbline Advisers lifted its stake in Teekay Tankers by 46.1% in the 4th quarter. Rhumbline Advisers now owns 268,239 shares of the shipping company’s stock valued at $249,000 after purchasing an additional 84,593 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in Teekay Tankers in the 4th quarter valued at approximately $314,000. Institutional investors and hedge funds own 26.00% of the company’s stock.

Teekay Tankers Company Profile

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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