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

Key Points

• Teekay Tankers Ltd. has declared a quarterly dividend of $0.25 per share, equating to a $1.00 annualized dividend with a yield of 2.23% for shareholders on record by August 11th.
• The company reported earnings per share of $1.41 for the last quarter, missing estimates, and has a net margin of 31.45% with a return on equity of 15.05%.
• Analysts have set a consensus rating of "Moderate Buy" for the stock, with an average target price of $50.67, while some firms have adjusted their price targets for Teekay Tankers.

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Monday, August 11th will be paid a dividend of 0.25 per share by the shipping company on Friday, August 22nd. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, August 11th.

Teekay Tankers has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. 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 Performance

TNK traded up $0.21 on Friday, hitting $42.56. 863,672 shares of the company were exchanged, compared to its average volume of 358,735. The firm has a fifty day simple moving average of $44.37 and a two-hundred day simple moving average of $41.92. Teekay Tankers has a 12 month low of $33.35 and a 12 month high of $62.45. The stock has a market capitalization of $1.46 billion, a PE ratio of 5.29 and a beta of -0.09.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%. The business had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. During the same quarter in the prior year, the business posted $3.11 earnings per share. On average, equities analysts expect that Teekay Tankers will post 7.13 earnings per share for the current year.

Analysts Set New Price Targets

TNK has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday. Evercore ISI cut their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.67.

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.