Teekay Tankers Ltd. (NYSE:TNK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Teekay Tankers Ltd. has received an average consensus recommendation of "Hold" from five analyst firms, with one sell, two hold, and two buy ratings.
• The company's recent earnings report showed an EPS of $1.41, falling short of the $1.59 consensus estimate, with revenues of $154.23 million compared to an expected $162.67 million.
• Teekay Tankers declared a quarterly dividend of $0.25, resulting in an annualized dividend yield of 1.9% and a payout ratio of 12.42%.

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

A number of research analysts have recently commented on TNK shares. Zacks Research raised Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Teekay Tankers in a report on Saturday, September 27th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a report on Thursday, July 31st.

Institutional Trading of Teekay Tankers

A number of large investors have recently modified their holdings of TNK. GAMMA Investing LLC boosted its holdings in shares of Teekay Tankers by 77.0% in the second quarter. GAMMA Investing LLC now owns 906 shares of the shipping company's stock valued at $38,000 after purchasing an additional 394 shares during the period. Blue Trust Inc. boosted its position in Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after acquiring an additional 568 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of 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 worth $71,000 after acquiring an additional 304 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Teekay Tankers by 85.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company's stock worth $101,000 after purchasing an additional 1,123 shares during the last quarter. Finally, State of Wyoming bought a new stake in Teekay Tankers during the second quarter valued at about $129,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Performance

TNK opened at $51.39 on Friday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 6.38 and a beta of -0.07. The stock's 50 day moving average price is $48.90 and its 200-day moving average price is $44.76. Teekay Tankers has a one year low of $33.35 and a one year high of $62.45.

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

Teekay Tankers Dividend Announcement

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

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.

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