Brokerages expect Teekay Corporation (NYSE:TK) to report $475.32 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Teekay Corporation’s earnings. The lowest sales estimate is $474.23 million and the highest is $476.41 million. Teekay Corporation posted sales of $510.43 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6.9%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 9th.
On average, analysts expect that Teekay Corporation will report full year sales of $475.32 million for the current fiscal year, with estimates ranging from $1.95 billion to $2.02 billion. For the next financial year, analysts anticipate that the business will report sales of $2.34 billion per share, with estimates ranging from $2.30 billion to $2.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Teekay Corporation.
A number of research firms have weighed in on TK. Zacks Investment Research downgraded shares of Teekay Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. ValuEngine downgraded shares of Teekay Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub raised shares of Teekay Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 price target on shares of Teekay Corporation in a research note on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.75.
Shares of Teekay Corporation (TK) opened at $7.94 on Monday. Teekay Corporation has a 1 year low of $5.14 and a 1 year high of $11.77. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.49.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Corporation’s dividend payout ratio is currently -15.38%.
Several hedge funds have recently modified their holdings of TK. Russell Investments Group Ltd. purchased a new position in shares of Teekay Corporation in the 1st quarter valued at $154,000. Bank of New York Mellon Corp raised its stake in shares of Teekay Corporation by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock valued at $2,351,000 after acquiring an additional 7,475 shares during the period. American International Group Inc. raised its stake in shares of Teekay Corporation by 17.2% in the 1st quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock valued at $271,000 after acquiring an additional 4,359 shares during the period. Alliancebernstein L.P. raised its stake in shares of Teekay Corporation by 8.6% in the 1st quarter. Alliancebernstein L.P. now owns 71,700 shares of the shipping company’s stock valued at $656,000 after acquiring an additional 5,700 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Teekay Corporation by 2.9% in the 1st quarter. California Public Employees Retirement System now owns 287,800 shares of the shipping company’s stock valued at $2,633,000 after acquiring an additional 8,200 shares during the period. 31.53% of the stock is currently owned by institutional investors and hedge funds.
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Teekay Corporation 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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