Teekay (TK) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Teekay (NYSE:TK) announced its quarterly earnings data on Thursday. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06), RTT News reports. The business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $508.35 million. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The firm’s revenue was down 40.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share.

Teekay (TK) traded up $0.19 on Friday, hitting $7.99. The stock had a trading volume of 1,121,218 shares, compared to its average volume of 1,976,376. Teekay has a 52 week low of $5.14 and a 52 week high of $10.90. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $791.02, a P/E ratio of -4.84 and a beta of 1.46.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Thursday, February 1st. Teekay’s dividend payout ratio (DPR) is presently -13.50%.

Several equities research analysts recently issued reports on TK shares. ValuEngine downgraded Teekay from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Jefferies Group started coverage on Teekay in a research note on Monday, December 18th. They issued a “hold” rating and a $8.00 price objective for the company. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Morgan Stanley increased their price objective on Teekay from $3.00 to $6.00 and gave the stock an “underweight” rating in a research note on Monday, February 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. The company has a consensus rating of “Hold” and an average price target of $8.00.

Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in shares of Teekay during the 4th quarter worth about $103,000. Jane Street Group LLC purchased a new stake in shares of Teekay during the 4th quarter worth about $107,000. Voya Investment Management LLC raised its stake in shares of Teekay by 25.8% during the 2nd quarter. Voya Investment Management LLC now owns 22,518 shares of the shipping company’s stock worth $150,000 after purchasing an additional 4,617 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Teekay during the 3rd quarter worth about $212,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Teekay during the 4th quarter worth about $212,000. 26.32% of the stock is owned by institutional investors.

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About Teekay

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.

Earnings History for Teekay (NYSE:TK)

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