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

Teekay Tankers Ltd. (NYSE:TNK) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.25 per share by the shipping company on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd.

Teekay Tankers has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teekay Tankers to earn $9.95 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 10.1%.

Teekay Tankers Stock Up 1.2%

Shares of TNK stock opened at $72.45 on Thursday. Teekay Tankers has a 52-week low of $33.35 and a 52-week high of $73.73. The stock has a market cap of $2.50 billion, a PE ratio of 8.05 and a beta of -0.27. The business has a 50-day simple moving average of $60.01 and a 200-day simple moving average of $55.73.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.09. Teekay Tankers had a return on equity of 10.63% and a net margin of 32.87%.The company had revenue of $158.78 million during the quarter, compared to analysts’ expectations of $179.70 million. During the same period last year, the business earned $1.50 earnings per share. Teekay Tankers’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts anticipate that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Evercore raised their price target on shares of Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group upped their price objective on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Teekay Tankers presently has a consensus rating of “Buy” and an average price target of $65.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.