Teekay Tankers Ltd reports results for the quarter ended in January - Earnings Summary

Teekay Tankers

01/08/2024 14:31

* Teekay Tankers Ltd  TNK.N  reported quarterly adjusted
earnings
of $3.11​​ per share for the quarter ended in January, lower
than the same quarter last year, when the company reported EPS
of $4.38.  The mean expectation of seven analysts for the
quarter was for earnings of $3.05 per share. Wall Street
expected results to range from $2.50  to $3.48 per share.
    * Revenue rose 17.4% to $296.59 million from a year ago;
analysts
expected $209.91 million. 
    * Teekay Tankers Ltd's reported EPS for the quarter was
$3.11​.
    * The company reported quarterly net income of $106.97
million.
    * Teekay Tankers Ltd shares had fallen by 4.9% this
quarter and
gained 34.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.3%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 7 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
transportation services peer group is also "strong buy"

Wall Street's median 12-month price target for Teekay Tankers
Ltd is $80.50 
This summary was machine generated from LSEG data August 1 at
01:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      3.05           3.11           Beat
 Mar. 31 2024      3.73           3.86           Beat
 Dec. 31 2023      3.47           2.91           Missed
 Sep. 30 2023      2.03           2.24           Beat