Teekay Corporation (NYSE:TK) Expected to Announce Quarterly Sales of $504.07 Million
Wall Street analysts expect Teekay Corporation (NYSE:TK) to announce sales of $504.07 million for the current quarter, Zacks reports. Two analysts have provided estimates for Teekay Corporation’s earnings. The highest sales estimate is $504.49 million and the lowest is $503.65 million. Teekay Corporation posted sales of $559.32 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.9%. The firm is expected to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that Teekay Corporation will report full-year sales of $504.07 million for the current fiscal year, with estimates ranging from $2.02 billion to $2.07 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.38 billion per share, with estimates ranging from $2.35 billion to $2.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Teekay Corporation.
Teekay Corporation (NYSE:TK) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.07. Teekay Corporation had a negative return on equity of 1.86% and a negative net margin of 5.36%. The firm had revenue of $513.90 million during the quarter, compared to analyst estimates of $503.65 million. During the same period in the prior year, the business posted $0.01 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Teekay Corporation from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “hold” rating and issued a $8.50 price target on shares of Teekay Corporation in a report on Tuesday, May 2nd. ValuEngine raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.33.
Teekay Corporation (NYSE TK) opened at 10.04 on Friday. The firm’s market cap is $866.04 million. The company has a 50-day moving average of $7.13 and a 200-day moving average of $8.41. Teekay Corporation has a 1-year low of $5.14 and a 1-year high of $11.77.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, August 4th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, August 2nd. Teekay Corporation’s dividend payout ratio (DPR) is currently -13.41%.
Several institutional investors have recently modified their holdings of the company. Geneva Advisors LLC raised its position in Teekay Corporation by 10.6% in 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 bought a new position in Teekay Corporation during the first quarter worth approximately $111,000. Nine Chapters Capital Management LLC bought a new position in Teekay Corporation during the first quarter worth approximately $141,000. Russell Investments Group Ltd. bought a new position in Teekay Corporation during the first quarter worth approximately $154,000. Finally, Gargoyle Investment Advisor L.L.C. bought a new position in Teekay Corporation during the first quarter worth approximately $161,000. 46.79% of the stock is currently owned by institutional investors.
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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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