NEW YORK (TheStreet) -- Teekay Tankers (TNK) - Get Report stock is falling 6.16% to $3.35 in mid-afternoon trading on Friday after reporting 2016 first quarter earnings and revenue that fell short of analysts' expectations.
The crude-oil shipping company reported adjusted earnings of 29 cents per share, below analysts' estimates for 37 cents per share.
Revenue was $152.1 million for the most recent period, missing analysts' estimates of $160.1 million.
Additionally, the company announced a dividend of 9 cents per share for the first quarter. The dividend is payable on June 3 to shareholders of record as of May 30.
"Looking ahead, based on continued positive tanker fundamentals, we expect to continue generating strong free cash flow from what is anticipated to be a healthy spot tanker market in the remainder of 2016," CEO Kevin Mackay said in a statement.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Teekay Tankers' strengths such as its robust revenue growth, notable return on equity and attractive valuation levels are countered by weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: TNK
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.