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

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Stockholders 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 payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE:TNK traded down $0.27 during trading hours on Thursday, hitting $40.38. 933,740 shares of the company’s stock traded hands, compared to its average volume of 512,262. The stock’s fifty day moving average price is $41.15 and its two-hundred day moving average price is $47.90. 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 has a twelve month low of $36.04 and a twelve month high of $74.20.

Teekay Tankers (NYSE:TNK) last posted 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. The business had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. Teekay Tankers had a net margin of 35.44% and a return on equity of 24.27%. On average, equities research analysts predict that Teekay Tankers will post 10.44 earnings per share for the current year.

Analyst Ratings Changes

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