Teekay Tankers Ltd. (TNK) To Go Ex-Dividend on March 2nd

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Monday, March 2nd will be paid a dividend of 0.25 per share by the shipping company on Friday, March 13th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd.

Teekay Tankers has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Up 2.1%

Shares of Teekay Tankers stock opened at $74.04 on Friday. Teekay Tankers has a 52-week low of $33.35 and a 52-week high of $74.70. The company has a 50 day moving average of $60.41 and a 200 day moving average of $55.85. The company has a market capitalization of $2.55 billion, a P/E ratio of 7.34 and a beta of -0.27.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, February 18th. The shipping company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.09. Teekay Tankers had a net margin of 36.90% and a return on equity of 12.89%. The firm had revenue of $158.78 million during the quarter, compared to the consensus estimate of $179.70 million. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, research analysts anticipate that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

TNK has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on shares of Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Zacks Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Evercore raised their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Wall Street Zen cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of “Buy” and a consensus price target of $65.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.