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

Key Points

• Teekay Tankers Ltd. has received a consensus recommendation of "Moderate Buy" from analysts, with a diversified range of ratings from sell to strong buy.
• The company reported $1.41 earnings per share in its latest quarter, missing estimates and showing a year-over-year decline from $3.11 EPS.
• Teekay Tankers announced a quarterly dividend of $0.25 per share, translating to an annualized yield of 1.9% and a low payout ratio of 12.42%.

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.6667.

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, July 31st.

Teekay Tankers Stock Up 6.5%

Shares of Teekay Tankers stock traded up $3.37 during mid-day trading on Wednesday, hitting $55.47. The stock had a trading volume of 513,628 shares, compared to its average volume of 518,983. The firm has a 50-day moving average of $46.25 and a two-hundred day moving average of $43.21. Teekay Tankers has a 12-month low of $33.35 and a 12-month high of $62.45. The firm has a market cap of $1.90 billion and a P/E ratio of 6.89.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The firm had revenue of $154.23 million during the quarter, compared to analysts' expectations of $162.67 million. During the same period last year, the company earned $3.11 EPS. Sell-side analysts expect that Teekay Tankers will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Teekay Tankers's dividend payout ratio (DPR) is presently 12.42%.

Institutional Investors Weigh In On Teekay Tankers

A number of hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. lifted its holdings in Teekay Tankers by 1.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,238,898 shares of the shipping company's stock worth $47,413,000 after buying an additional 18,222 shares in the last quarter. American Century Companies Inc. lifted its holdings in Teekay Tankers by 7.5% during the 2nd quarter. American Century Companies Inc. now owns 1,010,177 shares of the shipping company's stock worth $42,145,000 after buying an additional 70,578 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Teekay Tankers by 24.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company's stock worth $28,903,000 after buying an additional 136,990 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Teekay Tankers during the 1st quarter worth approximately $17,210,000. Finally, Geode Capital Management LLC lifted its holdings in Teekay Tankers by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 361,609 shares of the shipping company's stock worth $15,086,000 after buying an additional 14,052 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

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.