Brokerages Anticipate Teekay Tankers Ltd. (NYSE:TNK) Will Post Quarterly Sales of $111.72 Million

Wall Street analysts forecast that Teekay Tankers Ltd. (NYSE:TNKGet Rating) will report $111.72 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Teekay Tankers’ earnings, with the highest sales estimate coming in at $115.24 million and the lowest estimate coming in at $108.20 million. Teekay Tankers reported sales of $51.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 116.3%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Teekay Tankers will report full year sales of $382.88 million for the current fiscal year, with estimates ranging from $380.05 million to $385.70 million. For the next year, analysts forecast that the business will post sales of $407.35 million, with estimates ranging from $374.99 million to $439.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Teekay Tankers.

Teekay Tankers (NYSE:TNKGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.20. Teekay Tankers had a negative net margin of 40.96% and a negative return on equity of 15.05%. The firm had revenue of $174.00 million during the quarter, compared to analyst estimates of $61.06 million. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. Teekay Tankers’s quarterly revenue was up 21.8% on a year-over-year basis.

A number of brokerages recently issued reports on TNK. StockNews.com initiated coverage on shares of Teekay Tankers in a report on Thursday, March 31st. They issued a “sell” rating for the company. Jefferies Financial Group initiated coverage on shares of Teekay Tankers in a research report on Wednesday, April 27th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th.

Shares of TNK opened at $20.15 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Teekay Tankers has a 12-month low of $9.89 and a 12-month high of $22.10. The firm has a 50-day moving average price of $17.67 and a 200 day moving average price of $13.88. The firm has a market capitalization of $679.82 million, a P/E ratio of -2.90, a P/E/G ratio of 9.91 and a beta of -0.25.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Teekay Tankers by 2.0% in the fourth quarter. BlackRock Inc. now owns 1,268,793 shares of the shipping company’s stock valued at $13,830,000 after buying an additional 24,671 shares during the last quarter. State Street Corp lifted its position in shares of Teekay Tankers by 41.3% during the first quarter. State Street Corp now owns 436,178 shares of the shipping company’s stock worth $6,037,000 after purchasing an additional 127,480 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Teekay Tankers by 12.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 378,620 shares of the shipping company’s stock worth $5,241,000 after purchasing an additional 42,928 shares in the last quarter. Morgan Stanley lifted its position in shares of Teekay Tankers by 12.1% during the third quarter. Morgan Stanley now owns 272,829 shares of the shipping company’s stock worth $3,963,000 after purchasing an additional 29,494 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Teekay Tankers by 18.4% during the first quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company’s stock worth $3,590,000 after purchasing an additional 40,309 shares in the last quarter. 28.74% of the stock is currently owned by institutional investors.

About Teekay Tankers (Get Rating)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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