Monday, May 23, 2011

Teekay Tankers Ltd. (TNK) Retain "Buy" Rating from Sterne Agee

Analysts at Sterne Agee reiterated a "Buy" rating on Teekay Tankers Ltd. (TNK).

The board of directors of the company also recently declared a quarterly dividend of 25 cents per share, an approximate 14 percent over its prior dividend. That gives shareholders about a 10 percent yield.

In its most recent quarter losses for January-March widened to $29.7 million, or 41 cents a share, from $14.0 million, or 19 cents a share, last year in the same quarter.

Sterne Agee has a price target of $45 on the company.

Teekay Tankers closed Friday at $9.19, falling $0.12, or 1.29 percent.

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