Teekay Tankers Ltd. (NYSE:TNK - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $46.17 and last traded at $46.49, with a volume of 41050 shares trading hands. The stock had previously closed at $46.68.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on TNK. StockNews.com initiated coverage on Teekay Tankers in a report on Thursday, October 10th. They set a "hold" rating on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $72.00 price target on shares of Teekay Tankers in a report on Thursday. Fearnley Fonds upgraded Teekay Tankers to a "strong-buy" rating in a report on Friday, September 27th. Bank of America downgraded Teekay Tankers from a "buy" rating to a "neutral" rating and cut their target price for the stock from $57.00 to $51.00 in a report on Friday. Finally, Evercore ISI upped their price objective on shares of Teekay Tankers from $84.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.33.
Get Our Latest Analysis on TNK
Teekay Tankers Stock Down 0.2 %
The business's 50 day simple moving average is $55.34 and its two-hundred day simple moving average is $61.20. The stock has a market capitalization of $1.60 billion, a P/E ratio of 3.82, a price-to-earnings-growth ratio of 1.28 and a beta of -0.32.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.13). Teekay Tankers had a net margin of 35.44% and a return on equity of 24.27%. The company had revenue of $296.60 million for the quarter, compared to analyst estimates of $192.19 million. During the same quarter last year, the firm posted $4.38 EPS. Teekay Tankers's revenue for the quarter was down 20.0% on a year-over-year basis. Analysts predict that Teekay Tankers Ltd. will post 12.38 earnings per share for the current year.
Teekay Tankers Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, November 12th. Teekay Tankers's dividend payout ratio (DPR) is presently 8.21%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its position in Teekay Tankers by 266.7% during the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock valued at $43,000 after buying an additional 456 shares during the period. Quarry LP purchased a new stake in Teekay Tankers in the 2nd quarter worth about $43,000. EntryPoint Capital LLC raised its stake in Teekay Tankers by 76.5% in the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company's stock valued at $51,000 after acquiring an additional 378 shares during the period. CWM LLC lifted its holdings in Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company's stock valued at $57,000 after purchasing an additional 482 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Teekay Tankers by 14.7% during the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock worth $92,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 52.67% of the company's stock.
About Teekay Tankers
(
Get Free Report)
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.
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