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

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 paid 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 yield of 2.48%. The ex-dividend date of this dividend is Monday, March 3rd.

Teekay Tankers has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Teekay Tankers to earn $7.13 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 14.0%.

Teekay Tankers Trading Down 0.7 %

TNK traded down $0.27 during trading on Thursday, hitting $40.38. 933,740 shares of the company’s stock were exchanged, compared to its average volume of 512,262. The stock has a 50 day moving average price of $41.15 and a 200 day moving average price of $47.90. Teekay Tankers has a 1 year low of $36.04 and a 1 year high of $74.20. The firm has a market cap of $1.39 billion, a P/E ratio of 3.32 and a beta of -0.43.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a return on equity of 24.27% and a net margin of 35.44%. The firm had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Analysts forecast that Teekay Tankers will post 10.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America reaffirmed an “underperform” rating and set a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teekay Tankers has an average rating of “Moderate Buy” and an average target price of $62.00.

About Teekay Tankers

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.