Brokerages Expect Teekay Corporation (TK) Will Announce Earnings of -$0.40 Per Share
Wall Street brokerages expect that Teekay Corporation (NYSE:TK) will post ($0.40) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Teekay Corporation’s earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.39). Teekay Corporation reported earnings of ($0.23) per share in the same quarter last year, which would suggest a negative year over year growth rate of 73.9%. The firm is expected to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that Teekay Corporation will report full-year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($1.35) to ($1.11). For the next financial year, analysts forecast that the business will post earnings of $0.06 per share, with EPS estimates ranging from ($0.69) to $0.81. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Teekay Corporation.
Teekay Corporation (NYSE:TK) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative return on equity of 2.82% and a negative net margin of 5.66%. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. During the same period in the prior year, the company earned $0.01 EPS. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year.
A number of research analysts have weighed in on TK shares. BidaskClub raised Teekay Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $7.00 target price on shares of Teekay Corporation in a report on Friday, May 19th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Teekay Corporation in a report on Friday, June 16th. Finally, ValuEngine raised Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Teekay Corporation currently has an average rating of “Hold” and a consensus price target of $5.33.
Hedge funds have recently bought and sold shares of the business. Geneva Advisors LLC boosted its position in shares of Teekay Corporation by 10.6% during the 1st quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock valued at $101,000 after acquiring an additional 1,057 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Teekay Corporation during the 1st quarter valued at about $111,000. Nine Chapters Capital Management LLC bought a new stake in shares of Teekay Corporation during the 1st quarter valued at about $141,000. Voya Investment Management LLC boosted its position in shares of Teekay Corporation by 25.8% during the 2nd quarter. Voya Investment Management LLC now owns 22,518 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 4,617 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Teekay Corporation during the 1st quarter valued at about $154,000. 31.49% of the stock is owned by institutional investors and hedge funds.
Teekay Corporation (TK) traded down 1.09% during midday trading on Friday, reaching $9.11. 70,371 shares of the company traded hands. The firm’s market capitalization is $785.82 million. Teekay Corporation has a one year low of $5.14 and a one year high of $11.77. The firm has a 50-day moving average price of $9.20 and a 200-day moving average price of $8.27.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Friday, August 4th were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Wednesday, August 2nd. Teekay Corporation’s payout ratio is presently -15.38%.
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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