Teekay Tankers Ltd reports results for the quarter ended in January 1 - Earnings Summary

• Teekay Tankers Ltd TNK.N reported quarterly adjusted earnings of $1.84​​ per share for the quarter ended January 1, lower than the same quarter last year, when the company reported EPS of $2.24. The mean expectation of seven analysts for the quarter was for earnings of $2.01 per share. Wall Street expected results to range from $1.78 to $2.36 per share.

• Revenue fell 14.9% to $243.28 million from a year ago; analysts expected $203.58 million.

• Teekay Tankers Ltd's reported EPS for the quarter was $1.70​.

• The company reported quarterly net income of $58.82 million.

• Teekay Tankers Ltd shares had fallen by 16.4% this quarter and gained 0.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 21.4% in the last three months.​

• In the last 30 days, four 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 73.50

This summary was machine generated from LSEG data October 31 at 02:45 a.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)