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.
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.
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.
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.