Teekay Tankers Ltd. (NYSE:TNK) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Teekay Tankers has a consensus analyst rating of “Moderate Buy”, based on coverage from seven firms. The average 12-month price target is $80.
• The company recently beat earnings expectations, posting $2.80 EPS versus the $2.71 estimate, while revenue also came in above forecasts at $258.27 million.
• Teekay Tankers paid a quarterly dividend of $0.25 per share, equal to a 1.2% annual yield, and institutional investors own 52.67% of the stock.

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $80.00.

A number of equities analysts have recently weighed in on TNK shares. Zacks Research downgraded Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Dnb Carnegie downgraded Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Teekay Tankers in a research note on Friday, March 27th. DNB Markets downgraded Teekay Tankers from a "buy" rating to a "hold" rating in a research note on Friday, February 20th. Finally, Evercore reiterated an "outperform" rating and issued a $90.00 price objective on shares of Teekay Tankers in a research note on Tuesday, April 21st.

Teekay Tankers Stock Up 0.0%

Shares of NYSE TNK opened at $83.07 on Monday. Teekay Tankers has a twelve month low of $41.05 and a twelve month high of $83.99. The stock's 50 day moving average price is $73.83 and its 200-day moving average price is $64.95. The company has a market capitalization of $2.87 billion, a PE ratio of 8.23 and a beta of -0.21.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its earnings results on Thursday, February 19th. The shipping company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.09. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The firm had revenue of $258.27 million for the quarter, compared to the consensus estimate of $179.70 million. During the same quarter in the previous year, the business earned $1.50 EPS. The company's revenue was down .3% compared to the same quarter last year. As a group, research analysts expect that Teekay Tankers will post 7.3 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were paid a $0.25 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.00 annualized dividend and a yield of 1.2%. Teekay Tankers's dividend payout ratio is presently 9.91%.

Hedge Funds Weigh In On Teekay Tankers

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Teekay Tankers by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company's stock valued at $98,000 after purchasing an additional 172 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in Teekay Tankers by 1.5% in the fourth quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company's stock valued at $621,000 after purchasing an additional 176 shares during the last quarter. Glenorchy Capital Ltd lifted its stake in Teekay Tankers by 0.5% in the fourth quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company's stock valued at $1,973,000 after purchasing an additional 198 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in Teekay Tankers by 1.4% in the fourth quarter. Boothbay Fund Management LLC now owns 15,172 shares of the shipping company's stock valued at $810,000 after purchasing an additional 214 shares during the last quarter. Finally, CWM LLC lifted its stake in Teekay Tankers by 2.4% in the fourth quarter. CWM LLC now owns 9,171 shares of the shipping company's stock valued at $490,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company's fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.

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