Analysts Expect Teekay Co. (TK) to Announce -$0.09 Earnings Per Share

Equities analysts expect Teekay Co. (NYSE:TK) to post earnings per share of ($0.09) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Teekay’s earnings, with estimates ranging from ($0.13) to ($0.05). Teekay posted earnings of ($0.11) per share during the same quarter last year, which would suggest a positive year over year growth rate of 18.2%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 21st.

On average, analysts expect that Teekay will report full year earnings of ($0.57) per share for the current year. For the next financial year, analysts expect that the company will post earnings of $0.09 per share, with EPS estimates ranging from ($0.78) to $0.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Teekay.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, November 15th. The shipping company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.22). The company had revenue of $325.66 million for the quarter, compared to analyst estimates of $311.22 million. Teekay had a negative net margin of 4.84% and a negative return on equity of 2.07%.

A number of research analysts have recently commented on the stock. ValuEngine raised shares of Teekay from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Zacks Investment Research raised shares of Teekay from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Bank of America assumed coverage on shares of Teekay in a research report on Monday, October 22nd. They set a “buy” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Teekay has a consensus rating of “Hold” and an average target price of $7.50.

Shares of TK opened at $3.63 on Friday. The stock has a market cap of $364.58 million, a PE ratio of -2.63 and a beta of 1.40. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.16 and a quick ratio of 1.16. Teekay has a 52 week low of $2.92 and a 52 week high of $9.23.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Friday, February 1st will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Thursday, January 31st. Teekay’s dividend payout ratio (DPR) is presently -15.94%.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Teekay by 5.4% during the fourth quarter. BlackRock Inc. now owns 3,510,893 shares of the shipping company’s stock worth $11,726,000 after buying an additional 179,192 shares during the last quarter. Northern Trust Corp grew its stake in Teekay by 9.1% during the second quarter. Northern Trust Corp now owns 1,113,519 shares of the shipping company’s stock worth $8,629,000 after buying an additional 93,074 shares during the last quarter. Renaissance Technologies LLC grew its stake in Teekay by 51.5% during the third quarter. Renaissance Technologies LLC now owns 866,900 shares of the shipping company’s stock worth $5,843,000 after buying an additional 294,500 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Teekay by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 719,012 shares of the shipping company’s stock worth $4,846,000 after buying an additional 144,043 shares during the last quarter. Finally, Luminus Management LLC bought a new stake in Teekay during the third quarter worth about $4,365,000. 23.63% of the stock is owned by hedge funds and other institutional investors.

Teekay Company Profile

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.

Recommended Story: What is a Swap?

Get a free copy of the Zacks research report on Teekay (TK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Teekay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit