Teekay Offshore Partners L.P. (TOO) to Release Earnings on Thursday
Teekay Offshore Partners L.P. (NYSE:TOO) will be posting its quarterly earnings results before the market opens on Thursday, November 9th. Analysts expect Teekay Offshore Partners L.P. to post 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 consensus estimate of ($0.05) by $0.12. The firm had revenue of $244.60 million during the quarter, compared to analysts’ expectations of $270.00 million. Teekay Offshore Partners L.P. had a net margin of 11.51% and a return on equity of 5.24%. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. 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.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, November 3rd will be issued a $0.01 dividend. 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 1.56%. Teekay Offshore Partners L.P.’s dividend payout ratio (DPR) is currently 8.16%.
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A number of research analysts have recently commented on the stock. Zacks Investment Research raised 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 cut 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 raised shares of Teekay Offshore Partners L.P. from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $3.50 to $4.00 in a report on Thursday, September 14th. ValuEngine raised 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. reissued 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 given a buy rating to the company. The company 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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