Analysts predict that Teekay Corporation (NYSE:TK) will announce earnings per share (EPS) of ($0.40) for the current quarter, according to Zacks. Two analysts have made estimates for Teekay Corporation’s earnings, with estimates ranging from ($0.40) to ($0.39). Teekay Corporation posted earnings per share of ($0.23) in the same quarter last year, which would indicate a negative year-over-year growth rate of 73.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Teekay Corporation will report full year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($1.35) to ($1.11). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.06 per share, with EPS estimates ranging from ($0.69) to $0.81. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Teekay Corporation.
Teekay Corporation (NYSE:TK) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.82%. The firm had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $503.65 million. During the same period last year, the firm posted $0.01 EPS. Teekay Corporation’s revenue was down 12.5% on a year-over-year basis.
Several equities research analysts have recently issued reports on the company. Morgan Stanley downgraded Teekay Corporation from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $3.00 in a research report on Friday, June 9th. BidaskClub downgraded Teekay Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Teekay Corporation in a research report on Friday, June 16th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 price target on shares of Teekay Corporation in a research report on Friday, May 19th. Finally, ValuEngine raised Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Teekay Corporation currently has a consensus rating of “Hold” and a consensus target price of $5.33.
Shares of Teekay Corporation (NYSE TK) traded down 0.22% during midday trading on Friday, hitting $9.10. The stock had a trading volume of 793,371 shares. The firm has a 50-day moving average price of $9.28 and a 200-day moving average price of $8.24. Teekay Corporation has a 1-year low of $5.14 and a 1-year high of $11.77. The firm’s market cap is $784.96 million.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Friday, August 4th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, August 2nd. Teekay Corporation’s dividend payout ratio is currently -15.38%.
A number of hedge funds have recently added to or reduced their stakes in TK. Geneva Advisors LLC grew its position in Teekay Corporation by 10.6% during the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock worth $101,000 after buying an additional 1,057 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Teekay Corporation during the first quarter worth about $111,000. Nine Chapters Capital Management LLC acquired a new stake in Teekay Corporation during the first quarter worth about $141,000. Voya Investment Management LLC grew its position in Teekay Corporation by 25.8% during the second quarter. Voya Investment Management LLC now owns 22,518 shares of the shipping company’s stock worth $150,000 after buying an additional 4,617 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Teekay Corporation during the first quarter worth about $154,000. 31.49% of the stock is currently owned by institutional investors and hedge funds.
About Teekay Corporation
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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