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

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

Teekay Tankers has a dividend payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE:TNK remained flat at $69.30 during trading on Friday. The stock had a trading volume of 122,098 shares, compared to its average volume of 420,296. Teekay Tankers has a one year low of $35.00 and a one year high of $70.67. The stock has a market capitalization of $2.37 billion, a P/E ratio of 4.66, a price-to-earnings-growth ratio of 1.41 and a beta of -0.27. The company has a fifty day moving average price of $57.43 and a two-hundred day moving average price of $54.82. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data 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 firm had revenue of $194.46 million for the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. On average, research analysts forecast that Teekay Tankers will post 14.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. 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. StockNews.com lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Thursday. Evercore ISI decreased their price target on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Finally, Jefferies Financial Group lifted their price objective on Teekay Tankers from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday.

About Teekay Tankers

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.