Teekay Tankers Ltd. (TNK) Receives Average Recommendation of “Hold” from Brokerages
Teekay Tankers Ltd. (NYSE:TNK) has been given an average rating of “Hold” by the eight research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $1.65.
Several equities research analysts have recently weighed in on TNK shares. ValuEngine raised Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Morgan Stanley upped their target price on Teekay Tankers from $1.10 to $1.30 and gave the stock an “equal weight” rating in a research report on Wednesday, June 13th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Teekay Tankers in a research report on Thursday, August 23rd. Finally, Zacks Investment Research raised Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th.
Several hedge funds and other institutional investors have recently modified their holdings of TNK. Renaissance Technologies LLC lifted its stake in shares of Teekay Tankers by 62.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,142,910 shares of the shipping company’s stock worth $1,600,000 after acquiring an additional 439,300 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Teekay Tankers by 373.6% in the fourth quarter. Deutsche Bank AG now owns 561,377 shares of the shipping company’s stock worth $784,000 after acquiring an additional 442,843 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Teekay Tankers in the fourth quarter worth about $141,000. Wells Fargo & Company MN lifted its stake in shares of Teekay Tankers by 41.4% in the first quarter. Wells Fargo & Company MN now owns 344,134 shares of the shipping company’s stock worth $409,000 after acquiring an additional 100,748 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Teekay Tankers by 394.7% in the first quarter. Rhumbline Advisers now owns 736,612 shares of the shipping company’s stock worth $877,000 after acquiring an additional 587,700 shares in the last quarter. 25.75% of the stock is owned by institutional investors.
TNK stock traded down $0.02 during trading on Friday, reaching $1.08. 318,420 shares of the stock traded hands, compared to its average volume of 847,534. Teekay Tankers has a 52-week low of $0.94 and a 52-week high of $1.95. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.96. The company has a market cap of $281.98 million, a PE ratio of -9.82 and a beta of 1.84.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, August 2nd. The shipping company reported ($0.11) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). Teekay Tankers had a negative return on equity of 7.43% and a negative net margin of 13.20%. The company had revenue of $84.70 million during the quarter, compared to the consensus estimate of $77.53 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. equities analysts forecast that Teekay Tankers will post -0.35 EPS for the current fiscal year.