Teekay Tankers (NYSE:TNK) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Teekay Tankers (NYSE:TNK) announced its earnings results on Wednesday. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01, Zacks reports. The company had revenue of $163.42 million for the quarter, compared to analysts’ expectations of $158.26 million. Teekay Tankers had a return on equity of 20.84% and a net margin of 34.55%.

Teekay Tankers Price Performance

NYSE TNK opened at $40.55 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of 3.58 and a beta of -0.43. The stock’s 50-day moving average is $41.20 and its 200-day moving average is $47.85. Teekay Tankers has a one year low of $36.04 and a one year high of $74.20.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, March 3rd. Teekay Tankers’s payout ratio is 8.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TNK. Bank of America restated an “underperform” rating and set a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teekay Tankers presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.