Zacks: Brokerages Expect Teekay Tankers Ltd. (NYSE:TNK) Will Post Earnings of $2.07 Per Share

Share on StockTwits

Wall Street brokerages expect Teekay Tankers Ltd. (NYSE:TNK) to report earnings per share of $2.07 for the current quarter, according to Zacks. Two analysts have made estimates for Teekay Tankers’ earnings. The highest EPS estimate is $3.28 and the lowest is $1.12. Teekay Tankers posted earnings of $0.40 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 417.5%. The business is expected to announce its next earnings report on Thursday, February 20th.

On average, analysts expect that Teekay Tankers will report full year earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $0.88 to $2.64. For the next year, analysts expect that the firm will report earnings of $4.64 per share, with EPS estimates ranging from $3.04 to $6.88. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Teekay Tankers.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, November 13th. The shipping company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.08. Teekay Tankers had a negative return on equity of 0.49% and a negative net margin of 1.19%. The company had revenue of $182.30 million during the quarter, compared to analysts’ expectations of $95.10 million. During the same period last year, the business earned ($0.56) earnings per share. Teekay Tankers’s quarterly revenue was up 3.6% on a year-over-year basis.

TNK has been the subject of several analyst reports. ValuEngine cut shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Evercore ISI restated a “buy” rating and set a $28.00 price target on shares of Teekay Tankers in a research report on Sunday, November 17th. Jefferies Financial Group raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Bank of America upgraded shares of Teekay Tankers from an “underperform” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Friday, October 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Teekay Tankers presently has an average rating of “Buy” and a consensus price target of $18.00.

Shares of NYSE TNK opened at $18.55 on Friday. The stock has a market capitalization of $634.47 million, a price-to-earnings ratio of -11.59, a PEG ratio of 3.98 and a beta of 1.18. Teekay Tankers has a 12 month low of $6.96 and a 12 month high of $21.03. The firm’s 50 day simple moving average is $4.87 and its 200-day simple moving average is $2.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.89 and a quick ratio of 0.71.

Several institutional investors have recently bought and sold shares of TNK. Bank of Montreal Can lifted its position in shares of Teekay Tankers by 175.7% during the 2nd quarter. Bank of Montreal Can now owns 22,144 shares of the shipping company’s stock valued at $28,000 after buying an additional 14,111 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in Teekay Tankers during the second quarter valued at $33,000. Virtu Financial LLC lifted its holdings in Teekay Tankers by 12.9% during the third quarter. Virtu Financial LLC now owns 39,781 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 4,547 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Teekay Tankers in the second quarter valued at about $65,000. Finally, Jefferies Group LLC acquired a new stake in shares of Teekay Tankers in the second quarter valued at about $87,000. Institutional investors and hedge funds own 24.85% of the company’s stock.

Teekay Tankers Company Profile

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.

Featured Article: What causes a yield curve to invert?

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.