Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) announced a quarterly dividend on Thursday, August 1st, NASDAQ reports. Stockholders of record on Monday, August 12th will be paid a dividend of 0.25 per share by the shipping company on Friday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, August 12th.
Teekay Tankers has a payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Teekay Tankers to earn $11.54 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 8.7%.
Teekay Tankers Price Performance
Teekay Tankers stock opened at $61.65 on Friday. The stock’s fifty day moving average is $67.47 and its two-hundred day moving average is $61.93. The stock has a market cap of $2.11 billion, a PE ratio of 4.36, a P/E/G ratio of 1.58 and a beta of -0.28. Teekay Tankers has a 1-year low of $37.20 and a 1-year high of $74.20.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on TNK shares. Jefferies Financial Group reissued a “buy” rating and set a $76.00 price target on shares of Teekay Tankers in a report on Thursday. Bank of America increased their price objective on Teekay Tankers from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Evercore ISI boosted their price objective on shares of Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 17th.
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.
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