Teekay Tankers (NYSE:TNK) Reaches New 1-Year Low – Here’s Why

11 Mar 2025, 16:51 by Danessa Lincoln · The Markets Daily

Teekay Tankers Ltd. (NYSE:TNK – Get Free Report)’s share price hit a new 52-week low on Tuesday . The company traded as low as $35.94 and last traded at $36.23, with a volume of 45047 shares traded. The stock had previously closed at $36.65.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America restated an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Read Our Latest Research Report on TNK

Teekay Tankers Stock Down 3.1 %

The business’s 50 day simple moving average is $41.25 and its two-hundred day simple moving average is $46.28. The stock has a market cap of $1.22 billion, a P/E ratio of 3.14 and a beta of -0.44.

Teekay Tankers (NYSE:TNK – Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. As a group, research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. Teekay Tankers’s payout ratio is 8.83%.

Hedge Funds Weigh In On Teekay Tankers

Several institutional investors have recently modified their holdings of TNK. R Squared Ltd purchased a new stake in shares of Teekay Tankers during the 4th quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new stake in shares of Teekay Tankers during the fourth quarter worth $77,000. Millburn Ridgefield Corp bought a new position in shares of Teekay Tankers in the third quarter worth $132,000. New Age Alpha Advisors LLC bought a new stake in shares of Teekay Tankers during the 4th quarter valued at $132,000. Finally, BNP Paribas Financial Markets bought a new position in Teekay Tankers in the 4th quarter worth about $143,000. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Company Profile

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