Teekay Tankers Ltd. (TNK) Given Average Recommendation of “Sell” by Brokerages
Shares of Teekay Tankers Ltd. (NYSE:TNK) have been assigned a consensus recommendation of “Sell” from the seven research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $1.40.
Several equities research analysts have issued reports on TNK shares. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. BidaskClub downgraded Teekay Tankers from a “sell” rating to a “strong sell” rating in a report on Sunday, August 13th. Bank of America Corporation lowered their price target on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a report on Friday, November 10th. ValuEngine downgraded Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, TheStreet downgraded Teekay Tankers from a “c” rating to a “d+” rating in a report on Thursday, August 3rd.
Several large investors have recently bought and sold shares of TNK. Cubist Systematic Strategies LLC grew its holdings in shares of Teekay Tankers by 21.8% during the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock worth $100,000 after buying an additional 9,526 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Teekay Tankers by 26.3% during the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock worth $119,000 after buying an additional 13,167 shares in the last quarter. American International Group Inc. grew its holdings in shares of Teekay Tankers by 7.0% during the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of Teekay Tankers by 10.4% during the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock worth $150,000 after buying an additional 7,500 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Teekay Tankers by 2,453.3% during the first quarter. JPMorgan Chase & Co. now owns 79,636 shares of the shipping company’s stock worth $163,000 after buying an additional 76,517 shares in the last quarter. Institutional investors and hedge funds own 39.58% of the company’s stock.
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Shares of Teekay Tankers (NYSE TNK) traded up $0.10 during trading on Thursday, hitting $1.52. The company’s stock had a trading volume of 1,810,500 shares, compared to its average volume of 1,276,840. Teekay Tankers has a 12 month low of $1.37 and a 12 month high of $2.78. The company has a quick ratio of 0.80, a current ratio of 0.67 and a debt-to-equity ratio of 0.73.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. Teekay Tankers had a negative return on equity of 0.99% and a negative net margin of 11.43%. The company had revenue of $91.20 million during the quarter, compared to the consensus estimate of $68.67 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. research analysts predict that Teekay Tankers will post -0.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Monday, November 20th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, November 17th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 7.89%. Teekay Tankers’s payout ratio is presently -63.16%.
About Teekay Tankers
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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