Teekay Tankers Ltd. (NYSE:TNK) – Investment analysts at Seaport Global Securities reduced their Q1 2017 earnings per share (EPS) estimates for shares of Teekay Tankers in a report released on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the firm will earn $0.18 per share for the quarter, down from their previous forecast of $0.23. Seaport Global Securities also issued estimates for Teekay Tankers’ Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.18 EPS and Q4 2017 earnings at $0.18 EPS.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The company earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. Vetr downgraded shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.05 target price on the stock. in a research report on Thursday, October 6th. Morgan Stanley reiterated an “equal weight” rating and set a $2.50 target price (down previously from $3.60) on shares of Teekay Tankers in a research report on Friday, August 26th. Zacks Investment Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Clarkson Capital downgraded shares of Teekay Tankers from a “buy” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $3.00 in a research report on Monday, October 3rd. Finally, Danske reiterated a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Teekay Tankers presently has an average rating of “Hold” and an average target price of $6.18.
Shares of Teekay Tankers (NYSE:TNK) traded down 2.57% on Wednesday, hitting $2.65. 1,414,124 shares of the stock were exchanged. The stock has a market cap of $414.20 million, a price-to-earnings ratio of 2.60 and a beta of 2.29. Teekay Tankers has a 1-year low of $2.42 and a 1-year high of $8.53. The stock’s 50-day moving average is $2.61 and its 200-day moving average is $3.17.
Hedge funds have recently bought and sold shares of the company. QVT Financial LP raised its stake in Teekay Tankers by 100.7% in the second quarter. QVT Financial LP now owns 3,654,776 shares of the company’s stock valued at $10,891,000 after buying an additional 1,833,387 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Teekay Tankers during the second quarter valued at about $4,389,000. Emerald Acquisition Ltd. purchased a new stake in Teekay Tankers during the second quarter valued at about $3,571,000. BlackRock Fund Advisors raised its stake in Teekay Tankers by 24.8% in the second quarter. BlackRock Fund Advisors now owns 2,972,450 shares of the company’s stock valued at $8,858,000 after buying an additional 589,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Teekay Tankers by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,509,933 shares of the company’s stock valued at $13,440,000 after buying an additional 518,892 shares during the last quarter. Hedge funds and other institutional investors own 52.62% of the company’s stock.
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