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

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) declared 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 dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, March 3rd.

Teekay Tankers has a dividend payout ratio of 11.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.4 %

Shares of TNK traded down $0.17 during trading hours on Friday, reaching $40.13. The stock had a trading volume of 601,875 shares, compared to its average volume of 418,256. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 3.55 and a beta of -0.43. The firm has a 50-day simple moving average of $41.24 and a 200 day simple moving average of $47.68. Teekay Tankers has a 12 month low of $36.04 and a 12 month high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. On average, equities analysts forecast that Teekay Tankers will post 7.13 EPS for the current year.

Analysts Set New Price Targets

TNK has been the subject of a number of analyst reports. Bank of America reissued 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 reissued a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday. One equities 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.