Teekay (TK) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS
Teekay (NYSE:TK) released its earnings data on Thursday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.09, Stock Ratings Network.com reports. The company had revenue of $452.25 million for the quarter, compared to the consensus estimate of $440.50 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis.
Teekay (NYSE:TK) traded down 2.24% during mid-day trading on Thursday, hitting $53.64. 179,805 shares of the company’s stock traded hands. Teekay has a one year low of $37.20 and a one year high of $62.77. The stock has a 50-day moving average of $58.9 and a 200-day moving average of $57.07. The company’s market cap is $3.861 billion.
A number of research firms have recently commented on TK. Analysts at RBC Capital raised their price target on shares of Teekay from $72.00 to $80.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. On the ratings front, analysts at Barclays reiterated an “overweight” rating on shares of Teekay in a research note on Tuesday. They now have a $70.00 price target on the stock, up previously from $65.00. Finally, analysts at Jefferies Group raised their price target on shares of Teekay from $59.00 to $64.00 in a research note on Monday, July 28th. They now have a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Teekay currently has a consensus rating of “Buy” and a consensus price target of $63.11.
Teekay Corporation (NYSE:TK) is a provider of international crude oil and gas marine transportation services and it also offer offshore oil production, storage and offloading services, under long-term, fixed-rate contracts.
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