Wall Street brokerages predict that Teekay Tankers Ltd. (NYSE:TNK) will report earnings of $0.07 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Teekay Tankers’ earnings. The highest EPS estimate is $0.15 and the lowest is $0.02. Teekay Tankers reported earnings of $0.29 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 75.9%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, May 18th.
According to Zacks, analysts expect that Teekay Tankers will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from ($0.02) to $0.21. For the next financial year, analysts expect that the firm will post earnings of $0.29 per share, with EPS estimates ranging from ($0.11) to $0.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Teekay Tankers.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, February 23rd. The shipping company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.02. Teekay Tankers had a net margin of 18.95% and a return on equity of 13.73%. The company had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.59 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. Teekay Tankers’s revenue was down 30.4% on a year-over-year basis. TNK has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, February 4th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Teekay Tankers in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Teekay Tankers has an average rating of “Hold” and a consensus price target of $3.03.
Hedge funds have recently added to or reduced their stakes in the stock. Schroder Investment Management Group acquired a new stake in Teekay Tankers during the third quarter valued at approximately $195,000. Muhlenkamp & Co. Inc. raised its stake in Teekay Tankers by 3.3% in the third quarter. Muhlenkamp & Co. Inc. now owns 50,695 shares of the shipping company’s stock valued at $128,000 after buying an additional 1,620 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Teekay Tankers during the fourth quarter valued at approximately $363,000. State Street Corp raised its stake in Teekay Tankers by 5.1% in the fourth quarter. State Street Corp now owns 1,778,927 shares of the shipping company’s stock valued at $4,021,000 after buying an additional 85,736 shares in the last quarter. Finally, Oxford Asset Management raised its stake in Teekay Tankers by 50.6% in the fourth quarter. Oxford Asset Management now owns 1,341,441 shares of the shipping company’s stock valued at $3,032,000 after buying an additional 450,676 shares in the last quarter. 44.98% of the stock is owned by institutional investors and hedge funds. 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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