Teekay Tankers Ltd. (NYSE:TNK)’s share price dropped 9.6% on Thursday . The company traded as low as $1.19 and last traded at $1.22. Approximately 2,935,660 shares changed hands during trading, an increase of 106% from the average daily volume of 1,428,035 shares. The stock had previously closed at $1.35.
TNK has been the subject of a number of recent research reports. DNB Markets raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. JPMorgan Chase & Co. downgraded Teekay Tankers from a “neutral” rating to an “underweight” rating and set a $1.00 price target for the company. in a research report on Friday, February 22nd. Finally, Zacks Investment Research raised Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $1.11.
The firm has a market cap of $338.38 million, a P/E ratio of -6.30, a P/E/G ratio of 46.33 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.04.
Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, May 23rd. The shipping company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $135.16 million during the quarter, compared to the consensus estimate of $141.14 million. Teekay Tankers had a negative return on equity of 5.74% and a negative net margin of 6.95%. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 0.01 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Teekay Tankers by 92.6% during the 4th quarter. SG Americas Securities LLC now owns 36,974 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 17,779 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Teekay Tankers by 442.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 40,916 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 33,367 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Teekay Tankers during the 4th quarter valued at $42,000. Essex Financial Services Inc. lifted its holdings in Teekay Tankers by 954.5% during the 4th quarter. Essex Financial Services Inc. now owns 116,000 shares of the shipping company’s stock valued at $108,000 after purchasing an additional 105,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Teekay Tankers by 88.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 131,856 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 62,001 shares during the last quarter. 22.90% of the stock is owned by institutional investors.
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About Teekay Tankers (NYSE:TNK)
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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