Teekay Tankers: When Cheap Valuation And Solid Balance Sheet Are Not Enough; Rating Downgrade [Seeking Alpha]
Teekay Tankers Ltd. (TNK)
Last teekay tankers ltd. earnings: 2/27 02:00 am
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US:NYSE Investor Relations:
teekay.com/investors/teekay-tankers-ltd
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Source: Seeking Alpha
Play 10min Summary Teekay Tankers boasts a strong balance sheet with minimal debt and competitive daily operating expenses and breakeven cash flow. TNK trades at 1.9 EV/Sales and 2.9 EV/EBITDA, which is dirt cheap for a company with a 4% LTV and $15,000/day breakeven cash flow. TNK pays dividends with a 5.52% LTM yield, which is mediocre compared to other tanker owners. I rate TNK as a Hold due to its unattractive dividend yield and better growth prospects in the VLCC segment with companies like ECO and DHT. Dikuch Note: I previously covered Teekay Tankers ( NYSE: TNK ). My 1Q24 article discussed Aframax/Suezmax market dynamics, TNK fleet, and company financials. I liked TNK's clean balance sheet, LTV below 10%, Aframax/Suezmax fleet, and reasonable valuation at 89% PNAV. One drawback is fleet age; TNK ships are 14.7 years old. Dividend yields are not impressive compared to other tanker owners. In summary, TNK's strengths compensated for its weaknesses, and the comp
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TNK
News
- Teekay Tankers Ltd. (NYSE: TNK) had its price target lowered by analysts at Jefferies Financial Group Inc. from $72.00 to $60.00. They now have a "buy" rating on the stock.MarketBeat
- Teekay Tankers Ltd. (NYSE: TNK) had its "underperform" rating re-affirmed by analysts at Bank of America Co.. They now have a $46.00 price target on the stock, down previously from $51.00.MarketBeat
- Here's What We Like About Teekay Tankers' (NYSE:TNK) Upcoming Dividend [Yahoo! Finance]Yahoo! Finance
- Teekay Tankers (NYSE:TNK) Is Paying Out A Dividend Of $0.25 [Yahoo! Finance]Yahoo! Finance
- Teekay Tankers Ltd. (NYSE: TNK) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating.MarketBeat
TNK
Earnings
- 10/30/24 - Miss
TNK
Sec Filings
- 11/21/24 - Form 144
- 11/20/24 - Form 144
- 11/12/24 - Form 144
- TNK's page on the SEC website