Teekay Tankers (NYSE:TNK) Announces Earnings Results

Teekay Tankers (NYSE:TNK) issued its quarterly earnings results on Wednesday. The shipping company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01, Zacks reports. Teekay Tankers had a net margin of 35.44% and a return on equity of 24.27%.

Teekay Tankers Price Performance

Shares of TNK stock traded down $0.17 on Wednesday, reaching $40.74. 502,278 shares of the company were exchanged, compared to its average volume of 498,896. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 3.34 and a beta of -0.43. The company has a 50-day moving average of $41.11 and a 200-day moving average of $47.95. Teekay Tankers has a one year low of $36.04 and a one year high of $74.20.

Analyst Ratings Changes

TNK has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price target on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Bank of America reissued an “underperform” rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

About Teekay Tankers

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.