Teekay Tankers Ltd. to Issue Quarterly Dividend of $0.25 (NYSE:TNK)

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.25 per share by the shipping company on Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, March 3rd.

Teekay Tankers has a dividend payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teekay Tankers to earn $10.64 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 9.4%.

Teekay Tankers Stock Performance

TNK opened at $40.38 on Friday. The company has a fifty day moving average price of $41.20 and a two-hundred day moving average price of $47.85. The firm has a market capitalization of $1.39 billion, a PE ratio of 3.57 and a beta of -0.43. Teekay Tankers has a 52 week low of $36.04 and a 52 week high of $74.20.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.84% and a net margin of 34.55%. The business had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. Equities analysts forecast that Teekay Tankers will post 7.13 EPS for the current year.

Analyst Upgrades and Downgrades

TNK has been the topic of a number of analyst reports. Bank of America reiterated an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teekay Tankers currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.