Teekay Tankers (NYSE:TNK) Announces Earnings Results

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

Teekay Tankers Stock Performance

TNK opened at $40.74 on Thursday. The firm has a market cap of $1.40 billion, a P/E ratio of 3.34 and a beta of -0.43. Teekay Tankers has a 52-week low of $36.04 and a 52-week high of $74.20. The business’s fifty day moving average is $41.15 and its 200-day moving average is $47.90.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TNK. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday. Bank of America reiterated an “underperform” rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.