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

Teekay Tankers Ltd. (NYSE:TNK) declared a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.25 per share by the shipping company on Friday, November 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Tuesday, November 12th.

Teekay Tankers has a payout ratio of 8.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teekay Tankers to earn $10.83 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 9.2%.

Teekay Tankers Stock Performance

TNK stock opened at $47.71 on Friday. The stock has a 50-day simple moving average of $55.52 and a 200-day simple moving average of $61.22. The firm has a market cap of $1.64 billion, a P/E ratio of 3.92, a price-to-earnings-growth ratio of 1.29 and a beta of -0.33. Teekay Tankers has a 1 year low of $46.25 and a 1 year high of $74.20.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.11 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.13). The firm had revenue of $296.60 million during the quarter, compared to analyst estimates of $192.19 million. Teekay Tankers had a return on equity of 24.70% and a net margin of 35.44%. The business’s quarterly revenue was down 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.38 EPS. On average, equities research analysts predict that Teekay Tankers will post 12.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $72.00 price target on shares of Teekay Tankers in a report on Thursday. StockNews.com began coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating for the company. Bank of America decreased their price objective on shares of Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Fearnley Fonds upgraded shares of Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Evercore ISI lifted their price target on Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $75.33.

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.