Teekay Tankers Ltd. (NYSE:TNK) – Investment analysts at Seaport Global Securities issued their Q1 2019 earnings estimates for shares of Teekay Tankers in a report released on Thursday. Seaport Global Securities analyst M. Fyhr expects that the shipping company will post earnings of $0.03 per share for the quarter. Seaport Global Securities has a “Buy” rating and a $3.00 price objective on the stock. Seaport Global Securities also issued estimates for Teekay Tankers’ Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.03 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at $0.11 EPS.
Several other brokerages also recently issued reports on TNK. Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. ValuEngine downgraded shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Bank of America lowered their price objective on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Teekay Tankers has a consensus rating of “Hold” and a consensus price target of $1.95.
Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, November 9th. The shipping company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The company had revenue of $91.20 million for the quarter, compared to analyst estimates of $68.67 million. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share.
A number of hedge funds have recently made changes to their positions in TNK. Cubist Systematic Strategies LLC lifted its stake in Teekay Tankers by 21.8% in the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 9,526 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Teekay Tankers by 26.3% during the 2nd quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock worth $119,000 after buying an additional 13,167 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Teekay Tankers by 10.4% during the 2nd quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock worth $150,000 after buying an additional 7,500 shares during the last quarter. Loews Corp lifted its stake in shares of Teekay Tankers by 17.6% during the 2nd quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock worth $165,000 after buying an additional 13,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Teekay Tankers by 16.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock worth $202,000 after buying an additional 15,304 shares during the last quarter. Hedge funds and other institutional investors own 28.35% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Teekay Tankers Ltd. Forecasted to Post Q1 2019 Earnings of $0.03 Per Share (TNK)” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.com-unik.info/2018/01/08/teekay-tankers-ltd-forecasted-to-post-q1-2019-earnings-of-0-03-per-share-tnk.html.
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.
Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.