Shares of Teekay Tankers Ltd. (NYSE:TNK) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $21.33.
A number of research analysts have weighed in on TNK shares. DNB Markets upgraded Teekay Tankers from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, May 28th. Zacks Investment Research lowered Teekay Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Finally, Fearnley Fonds lowered Teekay Tankers from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Tuesday, June 2nd.
Several institutional investors and hedge funds have recently modified their holdings of the business. Pinnacle Holdings LLC acquired a new stake in shares of Teekay Tankers in the 1st quarter worth $32,000. Citigroup Inc. increased its stake in shares of Teekay Tankers by 42.9% in the 1st quarter. Citigroup Inc. now owns 6,820 shares of the shipping company’s stock worth $152,000 after acquiring an additional 2,047 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Teekay Tankers in the 1st quarter worth $51,000. Geode Capital Management LLC increased its stake in shares of Teekay Tankers by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 187,293 shares of the shipping company’s stock worth $4,165,000 after acquiring an additional 2,375 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Teekay Tankers by 271.8% in the 1st quarter. Meeder Asset Management Inc. now owns 4,064 shares of the shipping company’s stock worth $90,000 after acquiring an additional 2,971 shares during the last quarter. 33.07% of the stock is owned by institutional investors and hedge funds.
Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, May 21st. The shipping company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.36. Teekay Tankers had a return on equity of 16.13% and a net margin of 13.18%. The firm had revenue of $341.90 million for the quarter, compared to analyst estimates of $227.00 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue was up 43.5% on a year-over-year basis. On average, sell-side analysts expect that Teekay Tankers will post 7.22 earnings per share for the current year.
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.
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