Teekay Tankers (TNK) to Release Quarterly Earnings on Wednesday

Teekay Tankers (NYSE:TNK) will be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect Teekay Tankers to post earnings of $2.52 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Teekay Tankers (NYSE:TNK) last announced its earnings results 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 firm had revenue of $296.60 million for the quarter, compared to the consensus estimate of $192.19 million. Teekay Tankers had a return on equity of 26.34% and a net margin of 36.04%. Teekay Tankers’s quarterly revenue was down 20.0% on a year-over-year basis. During the same period in the prior 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 Up 0.7 %

Shares of TNK opened at $50.02 on Monday. The firm’s fifty day simple moving average is $56.11 and its two-hundred day simple moving average is $61.54. Teekay Tankers has a 12 month low of $46.25 and a 12 month high of $74.20. The stock has a market capitalization of $1.72 billion, a P/E ratio of 3.90, a price-to-earnings-growth ratio of 1.32 and a beta of -0.33.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 2.00%. Teekay Tankers’s dividend payout ratio is currently 7.79%.

Analysts Set New Price Targets

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

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.