-$0.06 EPS Expected for Teekay Offshore Partners L.P. (TOO) This Quarter

Wall Street brokerages expect that Teekay Offshore Partners L.P. (NYSE:TOO) will report earnings per share of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Teekay Offshore Partners’ earnings. Teekay Offshore Partners reported earnings of $0.01 per share in the same quarter last year, which would indicate a negative year over year growth rate of 700%. The firm is scheduled to announce its next earnings report on Friday, February 8th.

According to Zacks, analysts expect that Teekay Offshore Partners will report full-year earnings of ($0.17) per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of ($0.06) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Teekay Offshore Partners.

Teekay Offshore Partners (NYSE:TOO) last posted its quarterly earnings data on Friday, February 8th. The shipping company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Teekay Offshore Partners had a positive return on equity of 18.47% and a negative net margin of 8.25%. The business had revenue of $405.81 million during the quarter, compared to the consensus estimate of $384.50 million.

Several equities research analysts recently weighed in on TOO shares. Wells Fargo & Co downgraded Teekay Offshore Partners from an “outperform” rating to a “market perform” rating in a report on Thursday, January 10th. Zacks Investment Research raised Teekay Offshore Partners from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, November 7th. ValuEngine raised Teekay Offshore Partners from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, Morgan Stanley downgraded Teekay Offshore Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $2.75 to $1.00 in a report on Tuesday, January 22nd.

Shares of NYSE TOO traded up $0.04 during mid-day trading on Wednesday, hitting $1.37. 5,800 shares of the company were exchanged, compared to its average volume of 498,113. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.52 and a quick ratio of 0.52. Teekay Offshore Partners has a 1-year low of $1.10 and a 1-year high of $3.12. The company has a market cap of $550.74 million, a PE ratio of 4.66 and a beta of 2.28.

A number of large investors have recently added to or reduced their stakes in TOO. FMR LLC raised its position in Teekay Offshore Partners by 5.4% in the third quarter. FMR LLC now owns 34,492,807 shares of the shipping company’s stock worth $80,713,000 after acquiring an additional 1,776,005 shares in the last quarter. TCW Group Inc. purchased a new stake in shares of Teekay Offshore Partners during the 3rd quarter valued at $2,791,000. RR Advisors LLC raised its position in shares of Teekay Offshore Partners by 30.3% during the 3rd quarter. RR Advisors LLC now owns 1,075,000 shares of the shipping company’s stock valued at $2,516,000 after buying an additional 250,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Teekay Offshore Partners by 44.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 647,608 shares of the shipping company’s stock valued at $1,515,000 after buying an additional 200,315 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Teekay Offshore Partners by 16.3% during the 2nd quarter. Renaissance Technologies LLC now owns 756,405 shares of the shipping company’s stock valued at $1,997,000 after buying an additional 106,005 shares in the last quarter. Hedge funds and other institutional investors own 75.87% of the company’s stock.

Teekay Offshore Partners Company Profile

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.

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