Teekay Tankers Ltd. (TNK) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $0.20 EPS for the quarter. Analysts had a consensus estimate of $0.20. The company posted revenue of $139.60 million in the period, compared to analysts expectations of $127.22 million. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.
Many Wall Street Analysts have commented on Teekay Tankers Ltd.. Teekay Tankers Ltd. was Downgraded by BofA/Merrill to ” Underperform” on May 20, 2016.
Teekay Tankers Ltd. closed down -0.05 points or -1.76% at $2.79 with 15,25,858 shares getting traded on Tusday. Post opening the session at $2.89, the shares hit an intraday low of $2.78 and an intraday high of $2.96 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company owns around 11 Aframax Tankers three medium range product tankers 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers. The Company also operates one 50% owned very large crude carrier (VLCC). The Company’s operations are managed by Teekay Tankers Management Services Ltd. which provides the Company with commercial technical administrative and strategic services.