Teekay Tankers Ltd [TNK] stock prices are up 1.81% to $56.91 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The TNK shares have gain 5.62% over the last week, with a monthly amount drifted -0.30%, and not seem to be holding up well over a long-time horizon.
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On 22, February 2024, Teekay Corporation Reports Fourth Quarter and Annual 2023 Results. In a post published today on Yahoo Finance, Teekay Corporation (Teekay or the Company) (NYSE:TK) today reported results for the three and twelve months ended December 31, 2023.
From an analyst’s perspective:
Teekay Tankers Ltd [NYSE: TNK] stock has seen the most recent analyst activity on January 19, 2024, when BofA Securities upgraded its rating to a Buy and also boosted its price target to $72 from $56. Previously, Jefferies started tracking the stock with Buy rating on July 21, 2022, and set its price target to $25. DNB Markets downgraded its rating to a Hold. H.C. Wainwright initiated its recommendation with a Buy and recommended $22 as its price target on March 29, 2021. BofA Securities downgraded its rating to Underperform for this stock on August 14, 2020, and downed its price target to $14. In a note dated May 28, 2020, DNB Markets upgraded an Buy rating on this stock.
The stock price of Teekay Tankers Ltd [TNK] has been fluctuating between $35.00 and $64.42 over the past year. Currently, Wall Street analysts expect the stock to reach $44 within the next 12 months. Teekay Tankers Ltd [NYSE: TNK] shares were valued at $56.91 at the most recent close of the market. An investor can expect a potential drop of -22.68% based on the average TNK price forecast.
Analyzing the TNK fundamentals
The Teekay Tankers Ltd [NYSE:TNK] reported sales of 1.36B for trailing twelve months, representing a drop of -14.71%. Gross Profit Margin for this corporation currently stands at 0.42% with Operating Profit Margin at 0.39%, Pretax Profit Margin comes in at 0.38%, and Net Profit Margin reading is 0.38%. To continue investigating profitability, this company’s Return on Assets is posted at 0.27, Equity is 0.37 and Total Capital is 0.3. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.04.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 55.02 points at the first support level, and at 53.14 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.94, and for the 2nd resistance point, it is at 58.98.
Teekay Tankers Ltd [TNK] reported earnings per share of $2.91 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $3.47/share, meaning a difference of -$0.56 and a surprise factor of -16.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $2.24 per share as compared to estimates of $2.03 per share, a difference of $0.21 representing a surprise of 10.30%.
Ratios To Look Out For
It’s worth pointing out that Teekay Tankers Ltd [NYSE:TNK]’s Current Ratio is 4.40. Further, the Quick Ratio stands at 4.02, while the Cash Ratio is 2.63. Considering the valuation of this stock, the price to sales ratio is 1.41, the price to book ratio is 1.27 and price to earnings (TTM) ratio is 3.83.
