Teekay Tankers Ltd. (TNK) Releases Earnings Results, Misses Expectations By $-0.08 EPS

Teekay Tankers Ltd. (TNK) reported quarterly earnings results on Thursday, May-19-2016. The company reported $0.29 earnings per share for the quarter, missing the analyst consensus estimate by $-0.08. Analysts had a consensus of $0.37. The company posted revenue of $165.00 million in the period, compared to analysts expectations of $150.94 million. The company’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Teekay Tankers Ltd.. Seaport Global Securities Initiated Teekay Tankers Ltd. on May 4, 2016 to “Buy”, Price Target of the shares are set at $6.Teekay Tankers Ltd. was Upgraded by JP Morgan to ” Neutral” on Apr 7, 2016. Teekay Tankers Ltd. was Initiated by Danske Bank to “Hold” on Mar 2, 2016.

Teekay Tankers Ltd. closed down -0.01 points or -0.25% at $3.94 with 10,78,938 shares getting traded on Monday. Post opening the session at $3.98, the shares hit an intraday low of $3.89 and an intraday high of $4.01 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Teekay Tankers Ltd.

Leave a Reply

Teekay Tankers Ltd. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Teekay Tankers Ltd.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.