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

Teekay Tankers Ltd. (NYSE:TNK) declared a quarterly dividend on Thursday, February 20th, 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 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, March 3rd.

Teekay Tankers has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

TNK traded down $0.27 during trading on Thursday, reaching $40.38. 933,740 shares of the stock were exchanged, compared to its average volume of 512,074. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 3.32 and a beta of -0.43. Teekay Tankers has a 1 year low of $36.04 and a 1 year high of $74.20. The business’s 50 day moving average price is $41.15 and its two-hundred day moving average price is $47.90.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data 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 net margin of 35.44% and a return on equity of 24.27%. The business had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. On average, analysts anticipate that Teekay Tankers will post 10.44 EPS for the current year.

Analyst Upgrades and Downgrades

TNK has been the subject of a number of recent research reports. Bank of America reissued an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.