Teekay Tankers (TNK) to Release Earnings on Wednesday

Teekay Tankers (NYSE:TNK) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $2.52 per share for the quarter.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.11 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.13). The business had revenue of $296.60 million for the quarter, compared to analyst estimates of $192.19 million. Teekay Tankers had a net margin of 36.04% and a return on equity of 26.34%. Teekay Tankers’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.38 EPS. On average, analysts expect Teekay Tankers to post $13 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Teekay Tankers Trading Down 0.3 %

Teekay Tankers stock opened at $53.11 on Wednesday. The stock has a 50 day moving average of $56.52 and a 200-day moving average of $61.68. The stock has a market cap of $1.82 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 1.39 and a beta of -0.33. Teekay Tankers has a 52 week low of $43.76 and a 52 week high of $74.20.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Monday, August 12th. Teekay Tankers’s dividend payout ratio is currently 7.79%.

Wall Street Analysts Forecast Growth

TNK has been the subject of a number of research analyst reports. Evercore ISI boosted their price target on Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com started coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. Bank of America lowered their target price on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Jefferies Financial Group reissued a “buy” rating and issued a $76.00 price target on shares of Teekay Tankers in a report on Thursday, August 1st. Finally, Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.67.

About Teekay Tankers

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.