Teekay Tankers (NYSE:TNK) Releases Earnings Results, Beats Estimates By $0.01 EPS

Teekay Tankers (NYSE:TNK) posted its quarterly earnings data 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. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a return on equity of 20.84% and a net margin of 34.55%.

Teekay Tankers Trading Up 0.6 %

NYSE:TNK opened at $40.55 on Friday. The stock has a market cap of $1.39 billion, a P/E ratio of 3.58 and a beta of -0.43. The stock has a 50 day simple moving average of $41.20 and a 200 day simple moving average of $47.85. Teekay Tankers has a 1-year low of $36.04 and a 1-year high of $74.20.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.47%. Teekay Tankers’s payout ratio is currently 8.83%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America restated an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.