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%.

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

TNK has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st.

Teekay Tankers Trading Up 0.4%

Teekay Tankers stock traded up $0.18 during trading hours on Wednesday, reaching $52.15. 413,121 shares of the stock were exchanged, compared to its average volume of 527,088. The company has a market cap of $1.79 billion and a P/E ratio of 6.48. Teekay Tankers has a twelve month low of $33.35 and a twelve month high of $62.45. The stock has a 50 day moving average of $46.25 and a two-hundred day moving average of $43.15.

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

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, August 11th. Teekay Tankers's dividend payout ratio (DPR) is presently 12.42%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in Teekay Tankers by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company's stock valued at $38,000 after buying an additional 394 shares during the last quarter. Blue Trust Inc. raised its holdings in Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after buying an additional 568 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after buying an additional 304 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Teekay Tankers by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company's stock valued at $101,000 after buying an additional 1,123 shares during the last quarter. Finally, State of Wyoming bought a new position in Teekay Tankers in the 2nd quarter valued at approximately $129,000. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Company Profile

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.