Teekay Tankers Ltd. (NYSE:TNK) Declares 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. Investors of record on Monday, August 11th will be given a dividend of 0.25 per share by the shipping company on Friday, August 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, August 11th.

Teekay Tankers has a dividend 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 during midday trading on Friday, reaching $42.56. The company had a trading volume of 863,672 shares, compared to its average volume of 358,735. The stock has a market cap of $1.46 billion, a PE ratio of 5.29 and a beta of -0.09. Teekay Tankers has a 12-month low of $33.35 and a 12-month high of $62.45. The business has a 50-day moving average price of $44.37 and a two-hundred day moving average price of $41.88.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The company had revenue of $154.23 million during the quarter, compared to analysts' expectations of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%. During the same period in the prior year, the firm earned $3.11 EPS. On average, research analysts anticipate 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 analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research note on Thursday. Evercore ISI decreased their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.