Teekay Tankers (NYSE:TNK) had its price aim diminished by funding analysts at Jefferies Financial Group from $24.00 to $20.00 in a report launched on Friday, Stock Target Advisor tales. The company in the meanwhile has a “buy” rating on the supply agency’s stock. Jefferies Financial Group’s price aim components to a doable upside of 92.68% from the company’s earlier shut.
Numerous completely different evaluation companies have moreover not too way back weighed in on TNK. Monetary establishment of America reduce Teekay Tankers from a “buy” rating to an “underperform” rating and lowered their price aim for the company from $20.00 to $14.00 in a evaluation report on Friday, August 14th. BofA Securities reduce Teekay Tankers from a “buy” rating to an “underperform” rating and lowered their price aim for the company from $20.00 to $14.00 in a evaluation report on Friday, August 14th. Lastly, Zacks Investment Research reduce Teekay Tankers from a “keep” rating to a “promote” rating in a evaluation report on Saturday, October seventeenth. 4 funding analysts have rated the stock with a promote rating, one has issued a keep rating and three have issued a purchase order rating to the company’s stock. The company presently has a median rating of “Keep” and a consensus price aim of $19.57.
Shares of NYSE:TNK opened at $10.38 on Friday. The stock has a market capitalization of $349.34 million, a price-to-earnings ratio of 1.41, a PEG ratio of 0.58 and a beta of 0.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.71 and a gift ratio of 1.88. The stock’s 50-day straightforward transferring frequent is $11.39 and its two-hundred day straightforward transferring frequent is $14.83. Teekay Tankers has a 52-week low of $9.92 and a 52-week extreme of $26.92.
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Teekay Tankers (NYSE:TNK) closing posted its quarterly earnings data on Thursday, August thirteenth. The supply agency reported $2.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.90 by ($0.51). Teekay Tankers had an online margin of 23.10% and a return on equity of 24.00%. The company had revenue of $184.93 million for the quarter, compared with analysts’ expectations of $219.46 million. As a gaggle, equities analysts forecast that Teekay Tankers will submit 6.22 earnings per share for the current fiscal yr.
Hedge funds and completely different institutional consumers haven’t too way back bought and acquired shares of the stock. Edge Wealth Administration LLC purchased a model new place in Teekay Tankers throughout the 2nd quarter value roughly $58,000. Meeder Asset Administration Inc. lifted its holdings in Teekay Tankers by 271.8% throughout the 1st quarter. Meeder Asset Administration Inc. now owns 4,064 shares of the supply agency’s stock value $90,000 after shopping for an additional 2,971 shares throughout the closing quarter. Tower Evaluation Capital LLC TRC purchased a model new place in Teekay Tankers throughout the 1st quarter value roughly $103,000. Symons Capital Administration Inc. purchased a model new place in Teekay Tankers throughout the 2nd quarter value roughly $149,000. Lastly, Mid Atlantic Financial Administration Inc. ADV purchased a model new place in Teekay Tankers throughout the 2nd quarter value roughly $156,000. 28.45% of the stock is in the meanwhile owned by institutional consumers.
About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation corporations to grease industries in Bermuda and internationally. It operates by way of two segments, Tanker and Ship-to-ship Change (STS). The company provides voyage and time structure corporations; and offshore STS swap corporations of commodities primarily crude oil and refined oil merchandise, along with liquid gases and diversified completely different merchandise.
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6 Stocks Riding the Coattails of Nikola Motor
Since its preliminary public offering on June 4, shares of Nikola (NASDAQ: NKLA) have surged over 130%. NKLA stock has cooled down since then and is now shopping for and promoting at merely over a 60% premium from its IPO price of $34 per share.
Nikola isnt alone. The entire electrical vehicle (EV) market is on a tear. Together with the surge in Nikola stock, Tesla (NASDAQ: TSLA) stock is up over 93% and Nio (NYSE: NIO) stock has climbed virtually over 160% within the similar time interval. Nonetheless whereas Tesla and Nio are actually producing automobiles, Nikola doesn’t even have a plant constructed.
With all that talked about, the entice of Nikola is simple to see. The company is planning on establishing a fleet of hydrogen gasoline cell automobiles powered by hydrogen fueling stations from sea to shining sea. A minimal of thats the plan. Nonetheless that plan is years away. The company receivedt even have a gasoline cell truck accessible until 2023 on the earliest.
And whereas the USA has 39 hydrogen fueling stations, its an pricey, tough enterprise. Nonetheless thats been the difficulty with hydrogen for virtually 20 years. And that has some consumers questioning what the corporates chief govt officer (CEO) Trevor Milton is totally selling.
Leaving aside the question of whether or not or not Nikola is utilizing the coattails of Tesla, Nikola is beginning to create some important coattails of its private. And theres a motive for this. Whereas Nikola is planning to compete with Tesla throughout the electrical vehicle enviornment, its moreover masking a particular space of curiosity with a semi-truck that will run on a hydrogen gasoline cell.
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