Teekay Tankers (NYSE:TNK) Announces Earnings Results, Beats Expectations By $0.01 EPS

Teekay Tankers (NYSE:TNK) posted its earnings results on Wednesday. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01, Zacks reports. Teekay Tankers had a net margin of 35.44% and a return on equity of 24.27%.

Teekay Tankers Trading Down 0.4 %

NYSE:TNK traded down $0.17 during trading hours on Wednesday, hitting $40.74. The stock had a trading volume of 502,278 shares, compared to its average volume of 499,031. Teekay Tankers has a 1-year low of $36.04 and a 1-year high of $74.20. The business has a 50 day simple moving average of $41.11 and a two-hundred day simple moving average of $47.95. The company has a market cap of $1.40 billion, a PE ratio of 3.34 and a beta of -0.43.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TNK shares. Jefferies Financial Group dropped their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Bank of America reissued an “underperform” rating and set a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.