Teekay Tankers Ltd. (NYSE:TNK) Announces None Dividend of $2.25

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) announced a None dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Tuesday, May 21st will be paid a dividend of 2.25 per share by the shipping company on Friday, May 31st. This represents a yield of 1.5%. The ex-dividend date of this dividend is Monday, May 20th.

Teekay Tankers has a payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Teekay Tankers to earn $11.35 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 8.8%.

Teekay Tankers Stock Down 0.9 %

Shares of TNK stock traded down $0.61 on Friday, reaching $68.69. 545,726 shares of the company's stock traded hands, compared to its average volume of 295,196. The company has a market capitalization of $2.35 billion, a P/E ratio of 4.62, a price-to-earnings-growth ratio of 1.41 and a beta of -0.27. Teekay Tankers has a 12-month low of $35.00 and a 12-month high of $70.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. The business's 50 day moving average price is $57.43 and its two-hundred day moving average price is $54.82.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). The business had revenue of $194.46 million for the quarter, compared to analysts' expectations of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. On average, equities analysts forecast that Teekay Tankers will post 14.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TNK has been the subject of a number of research reports. Evercore ISI decreased their target price on shares of Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. Jefferies Financial Group upped their target price on Teekay Tankers from $70.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday. StockNews.com downgraded Teekay Tankers from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Bank of America boosted their price target on Teekay Tankers from $66.00 to $79.00 and gave the company a "buy" rating in a research note on Friday.

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.