Brokerages forecast that Teekay Corporation (NYSE:TK) will post $0.15 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Teekay’s earnings. Teekay reported earnings of ($0.22) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 168.2%. The business is expected to report its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Teekay will report full year earnings of ($1.16) per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of $0.81 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Teekay.
Teekay (NYSE:TK) last posted its earnings results on Thursday, November 9th. The shipping company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.03. Teekay had a negative return on equity of 3.18% and a negative net margin of 6.66%. The company had revenue of $500.80 million during the quarter, compared to the consensus estimate of $475.32 million. During the same quarter last year, the firm earned ($0.23) earnings per share. The company’s revenue was down 8.5% on a year-over-year basis.
A number of research firms have recently weighed in on TK. BidaskClub raised Teekay from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine downgraded Teekay from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $8.00 target price on shares of Teekay in a report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Teekay currently has a consensus rating of “Hold” and a consensus target price of $7.00.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Teekay by 1.6% in the second quarter. FMR LLC now owns 8,606,199 shares of the shipping company’s stock worth $57,403,000 after purchasing an additional 131,584 shares during the period. State Street Corp increased its position in shares of Teekay by 3.8% in the second quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock worth $7,910,000 after purchasing an additional 43,160 shares during the period. Northern Trust Corp increased its position in shares of Teekay by 9.0% in the second quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after purchasing an additional 88,261 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Teekay by 12.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock worth $4,980,000 after purchasing an additional 82,667 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Teekay by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock worth $4,122,000 after purchasing an additional 3,433 shares during the period. Institutional investors own 31.35% of the company’s stock.
Teekay (NYSE TK) traded down $0.01 on Thursday, hitting $8.45. The stock had a trading volume of 419,178 shares, compared to its average volume of 760,910. Teekay has a 12 month low of $5.14 and a 12 month high of $11.77. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.55 and a quick ratio of 0.55.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, November 3rd were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, November 2nd. Teekay’s payout ratio is currently -13.33%.
Teekay Company Profile
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
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