Q1 2017 EPS Estimates for Teekay Tankers Ltd. (TNK) Cut by Seaport Global Securities
Teekay Tankers Ltd. (NYSE:TNK) – Research analysts at Seaport Global Securities decreased their Q1 2017 EPS estimates for shares of Teekay Tankers in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the brokerage will post earnings per share of $0.18 for the quarter, down from their previous estimate 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 issued its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS.
A number of other research analysts have also recently commented on the company. Vetr cut Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.05 target price on the stock. in a research note on Thursday, October 6th. Zacks Investment Research cut Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 6th. Clarkson Capital cut Teekay Tankers from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $3.00 in a research note on Monday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $2.50 price objective (down from $3.60) on shares of Teekay Tankers in a research note on Friday, August 26th. Finally, Danske reaffirmed a “sell” rating on shares of Teekay Tankers in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.18.
Shares of Teekay Tankers (NYSE:TNK) traded down 1.45% during mid-day trading on Wednesday, hitting $2.71. The stock had a trading volume of 792,959 shares. The firm has a market capitalization of $423.57 million, a price-to-earnings ratio of 2.66 and a beta of 2.29. The stock’s 50-day moving average is $2.62 and its 200 day moving average is $3.17. Teekay Tankers has a 1-year low of $2.42 and a 1-year high of $8.53.
Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Teekay Tankers by 27.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 181,000 shares of the company’s stock valued at $540,000 after buying an additional 39,100 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Teekay Tankers during the second quarter valued at approximately $105,000. QVT Financial LP raised its stake in shares of 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 period. Weiss Multi Strategy Advisers LLC raised its stake in shares of Teekay Tankers by 79.2% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 179,200 shares of the company’s stock valued at $534,000 after buying an additional 79,200 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in shares of Teekay Tankers during the second quarter valued at approximately $154,000. Institutional investors and hedge funds own 52.62% of the company’s stock.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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