Teekay Tankers (TNK) Expected to Announce Quarterly Earnings on Thursday

Teekay Tankers (NYSE:TNK) will likely be posting its quarterly earnings results before the market opens on Thursday, February 27th. Analysts expect Teekay Tankers to post earnings of $2.69 per share and revenue of $145.90 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. On average, analysts expect Teekay Tankers to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $41.24 on Tuesday. The stock has a fifty day moving average price of $41.32 and a 200 day moving average price of $47.52. Teekay Tankers has a 1-year low of $36.04 and a 1-year high of $74.20. The company has a market cap of $1.41 billion, a PE ratio of 3.64 and a beta of -0.43.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers’s dividend payout ratio is presently 8.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America reaffirmed an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.