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

Teekay Tankers (NYSE:TNK) posted its earnings results on Wednesday. The shipping company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01, Zacks reports. Teekay Tankers had a net margin of 35.44% and a return on equity of 24.27%.

Teekay Tankers Stock Performance

NYSE:TNK traded down $0.17 on Wednesday, hitting $40.74. The stock had a trading volume of 502,278 shares, compared to its average volume of 498,896. The stock has a market cap of $1.40 billion, a P/E ratio of 3.34 and a beta of -0.43. Teekay Tankers has a 1 year low of $36.04 and a 1 year high of $74.20. The firm’s fifty day simple moving average is $41.11 and its two-hundred day simple moving average is $47.95.

Analyst Upgrades and Downgrades

TNK has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Bank of America restated an “underperform” rating and issued a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.67.

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.