Evercore ISI Issues Pessimistic Forecast for Teekay Tankers (NYSE:TNK) Stock Price

Teekay Tankers (NYSE:TNK - Free Report) had its target price cut by Evercore ISI from $53.00 to $51.00 in a research report sent to investors on Tuesday, MarketBeat reports. They currently have an outperform rating on the shipping company's stock.

Separately, Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Trading Up 3.9 %

Shares of NYSE TNK traded up $1.58 during midday trading on Tuesday, reaching $42.32. The company had a trading volume of 714,046 shares, compared to its average volume of 376,159. The stock has a market cap of $1.45 billion, a P/E ratio of 3.74 and a beta of -0.16. The business's 50-day simple moving average is $38.28 and its 200 day simple moving average is $41.76. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to analysts' expectations of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. Analysts predict that Teekay Tankers will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. Teekay Tankers's dividend payout ratio (DPR) is 8.83%.

Institutional Investors Weigh In On Teekay Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at about $41,000. Blue Trust Inc. grew its holdings in shares of Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock worth $66,000 after purchasing an additional 568 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Teekay Tankers during the fourth quarter valued at about $77,000. New Age Alpha Advisors LLC purchased a new stake in Teekay Tankers in the fourth quarter valued at approximately $132,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Teekay Tankers in the 4th quarter valued at $143,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

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.