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

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

Teekay Tankers Stock Down 0.4 %

NYSE:TNK opened at $40.74 on Thursday. The stock’s 50-day simple moving average is $41.15 and its 200 day simple moving average is $47.90. The firm has a market capitalization of $1.40 billion, a PE ratio of 3.34 and a beta of -0.43. Teekay Tankers has a twelve month low of $36.04 and a twelve month high of $74.20.

Analyst Ratings Changes

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

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.