Wall Street analysts’ outlook for Teekay Tankers Ltd. (TNK)

Teekay Tankers Ltd. (NYSE: TNK) stock fell -5.05% on Wednesday to $32.53 against a previous-day closing price of $34.26. With 0.44 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.55 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $34.74 whereas the lowest price it dropped to was $32.33. The 52-week range on TNK shows that it touched its highest point at $35.44 and its lowest point at $9.89 during that stretch. It currently has a 1-year price target of $44.03. Beta for the stock currently stands at -0.09.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TNK was down-trending over the past week, with a drop of -0.28%, but this was down by -0.18% over a month. Three-month performance surged to 30.96% while six-month performance rose 54.54%. The stock gained 176.62% in the past year, while it has gained 198.44% so far this year. A look at the trailing 12-month EPS for TNK yields -2.29 with Next year EPS estimates of 6.99. For the next quarter, that number is 2.87. This implies an EPS growth rate of -376.40% for this year and 46.30% for next year. EPS is expected to grow by 3.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -33.50%.


Float and Shares Shorts:

At present, 33.95 million TNK shares are outstanding with a float of 28.98 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.32 million, which was 3.89% higher than short shares on Sep 14, 2022. In addition to Mr. Kevin J. Mackay as the firm’s Pres & CEO, Mr. Stewart Andrade serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 38.95% of TNK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 30.21% of TNK, in contrast to 18.36% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in TNK with 5.71% of the stake, Dimensional Fund Advisors LP holds 1,666,111 shares worth 1,666,111. A second-largest stockholder of TNK, BlackRock Fund Advisors, holds 1,238,996 shares, controlling over 4.24% of the firm’s shares. Millennium Management LLC is the third largest shareholder in TNK, holding 876,458 shares or 3.00% stake. With a 1.77% stake in TNK, the iShares Russell 2000 ETF is the largest stakeholder. A total of 516,852 shares are owned by the mutual fund manager. The Columbia Overseas Value Fund, which owns about 1.17% of TNK stock, is the second-largest Mutual Fund holder. It holds 342,404 shares valued at 10.78 million. DFA US Small Cap Value Portfolio holds 1.14% of the stake in TNK, owning 332,324 shares worth 10.46 million.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TNK since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TNK analysts setting a high price target of $54.00 and a low target of $37.00, the average target price over the next 12 months is $44.46. Based on these targets, TNK could surge 66.0% to reach the target high and rise by 13.74% to reach the target low. Reaching the average price target will result in a growth of 36.67% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TNK will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of $5.94 being high and $4.00 being low. For TNK, this leads to a yearly average estimate of $4.89. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Teekay Tankers Ltd. surprised analysts by -$0.03 when it reported $1.70 EPS against a consensus estimate of $1.73. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is $3.83 and the low estimate is $1.98. The average estimate for the next quarter is thus $2.87.

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