Teekay Tankers Ltd. [NYSE: TNK] traded at a low on 06/17/22, posting a -6.31 loss after which it closed the day’ session at $17.96. The company report on May 12, 2022 that Teekay Tankers Ltd. Reports First Quarter 2022 Results.
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Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company’s results for the quarter ended March 31, 2022:.
The full earnings release and earnings presentation are available on the Company’s website here.
The results of the trading session contributed to over 611490 shares changing hands. Over the past one week, the price volatility of Teekay Tankers Ltd. stands at 5.69% while the volatility over the past one month is 5.43%.
The market cap for TNK stock reached $648.00 million, with 33.91 million shares outstanding and 23.24 million shares in the current float. Compared to the average trading volume of 424.37K shares, TNK reached a trading volume of 611490 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Teekay Tankers Ltd. [TNK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TNK shares is $21.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TNK stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Teekay Tankers Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 27, 2022. The new note on the price target was released on April 12, 2021, representing the official price target for Teekay Tankers Ltd. stock. Previously, the target price had yet another raise to $22, while H.C. Wainwright analysts kept a Buy rating on TNK stock. On August 14, 2020, analysts decreased their price target for TNK shares from 20 to 14.
The Average True Range (ATR) for Teekay Tankers Ltd. is set at 1.14, with the Price to Sales ratio for TNK stock in the period of the last 12 months amounting to 1.13. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 0.51.
How has TNK stock performed recently?
Teekay Tankers Ltd. [TNK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.07. With this latest performance, TNK shares dropped by -5.57% in over the last four-week period, additionally plugging by 61.37% over the last 6 months – not to mention a rise of 26.57% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TNK stock in for the last two-week period is set at 41.18, with the RSI for the last a single of trading hit 31.94, and the three-weeks RSI is set at 46.62 for Teekay Tankers Ltd. [TNK]. The present Moving Average for the last 50 days of trading for this stock 18.08, while it was recorded at 19.24 for the last single week of trading, and 13.89 for the last 200 days.
Teekay Tankers Ltd. [TNK]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Teekay Tankers Ltd. [TNK] shares currently have an operating margin of -18.76 and a Gross Margin at -10.70. Teekay Tankers Ltd.’s Net Margin is presently recorded at -44.69.
Return on Equity for this stock declined to -25.28, with Return on Assets sitting at -14.01.
Teekay Tankers Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.
Earnings analysis for Teekay Tankers Ltd. [TNK]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TNK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Teekay Tankers Ltd. go to 3.00%.
Insider trade positions for Teekay Tankers Ltd. [TNK]
There are presently around $147 million, or 29.60% of TNK stock, in the hands of institutional investors. The top three institutional holders of TNK stocks are: AMERIPRISE FINANCIAL INC with ownership of 1,415,694, which is approximately 1.191% of the company’s market cap and around 31.90% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 1,316,515 shares of the stock with an approximate value of $23.64 million in TNK stocks shares; and BLACKROCK INC., currently with $22.55 million in TNK stock with ownership of nearly -1.035% of the company’s market capitalization.
Positions in Teekay Tankers Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 38 institutional holders increased their position in Teekay Tankers Ltd. [NYSE:TNK] by around 959,320 shares. Additionally, 39 investors decreased positions by around 852,307 shares, while 19 investors held positions by with 6,370,104 shares. The mentioned changes placed institutional holdings at 8,181,731 shares, according to the latest SEC report filing. TNK stock had 23 new institutional investments in for a total of 440,527 shares, while 12 institutional investors sold positions of 428,431 shares during the same period.