Teekay Corporation (TK) to Release Quarterly Earnings on Thursday
Teekay Corporation (NYSE:TK) is set to issue its quarterly earnings data before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of ($0.42) per share for the quarter.
Teekay Corporation (NYSE:TK) last issued its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) EPS for the quarter, missing the 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 business had revenue of $513.90 million for the quarter, compared to analyst estimates of $503.65 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, analysts expect Teekay Corporation to post $-1.25 EPS for the current fiscal year and $0.06 EPS for the next fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, November 3rd will be issued a $0.055 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.72%. Teekay Corporation’s dividend payout ratio (DPR) is presently -15.38%.
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A number of brokerages recently issued reports on TK. Zacks Investment Research lowered shares of Teekay Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. ValuEngine lowered shares of Teekay Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Teekay Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 price objective on shares of Teekay Corporation in a report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.75.
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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