Teekay Offshore Partners L.P. (TOO) Set to Announce Quarterly Earnings on Wednesday
Teekay Offshore Partners L.P. (NYSE:TOO) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.04 per share for the quarter.
Teekay Offshore Partners L.P. (NYSE:TOO) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.12. Teekay Offshore Partners L.P. had a return on equity of 5.24% and a net margin of 11.51%. The company had revenue of $244.60 million during the quarter, compared to analyst estimates of $270.00 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. On average, analysts expect Teekay Offshore Partners L.P. to post $0.31 EPS for the current fiscal year and $0.5 EPS for the next fiscal year.
Teekay Offshore Partners L.P. (NYSE:TOO) opened at 2.63 on Wednesday. The company’s 50-day moving average price is $2.53 and its 200-day moving average price is $3.09. The company has a market cap of $404.65 million, a price-to-earnings ratio of 4.59 and a beta of 2.76. Teekay Offshore Partners L.P. has a 52-week low of $1.65 and a 52-week high of $6.49.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.52%. Teekay Offshore Partners L.P.’s dividend payout ratio is currently 8.16%.
Several analysts recently weighed in on TOO shares. Zacks Investment Research upgraded shares of Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a report on Thursday, July 13th. UBS AG downgraded shares of Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Wells Fargo & Company upgraded shares of Teekay Offshore Partners L.P. from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $3.50 to $4.00 in a report on Thursday, September 14th. ValuEngine upgraded shares of Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Teekay Offshore Partners L.P. presently has a consensus rating of “Hold” and an average price target of $4.00.
About Teekay Offshore Partners L.P.
Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry in North Sea, Brazil and the East Coast of Canada. The Company operates shuttle tankers; towage vessels; floating, production, storage and off-loading (FPSO) units; floating storage and off-take (FSO) units; units for maintenance and safety (UMS); long-distance towing and offshore installation vessels, and conventional crude oil tankers.
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