Teekay Tankers Ltd reports results for the quarter ended June 30 - Earnings Summary

• Teekay Tankers Ltd TNK.N reported quarterly adjusted earnings of $1.41​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $3.11. The mean expectation of six analysts for the quarter was for earnings of $1.66 per share. Wall Street expected results to range from $1.35 to $2.05 per share.

• Revenue fell 21.5% to $232.87 million from a year ago; analysts expected $193.74 million.

• Teekay Tankers Ltd's reported EPS for the quarter was $1.80​.

• The company reported quarterly net income of $62.61 million.

• Teekay Tankers Ltd shares had risen by 8.4% this quarter and gained 16.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.5% 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 "buy" and the breakdown of recommendations is 6 "strong buy" or "buy," no "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the oil & gas transportation services peer group is also "buy"

• Wall Street's median 12-month price target for Teekay Tankers Ltd is $54.00, about 16.7% above its last closing price of $44.99

This summary was machine generated from LSEG data July 30 at 09:00 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)