$530.63 Million in Sales Expected for Teekay Corporation (TK) This Quarter
Wall Street analysts forecast that Teekay Corporation (NYSE:TK) will report $530.63 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Teekay’s earnings. The highest sales estimate is $552.90 million and the lowest is $508.35 million. Teekay posted sales of $510.97 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The firm is expected to issue its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Teekay will report full year sales of $530.63 million for the current year, with estimates ranging from $1.93 billion to $2.02 billion. For the next financial year, analysts forecast that the business will report sales of $2.35 billion per share, with estimates ranging from $2.34 billion to $2.36 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Teekay.
Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.03. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The business had revenue of $500.80 million for the quarter, compared to the consensus estimate of $475.32 million. During the same period in the previous year, the business earned ($0.23) earnings per share. The business’s revenue was down 8.5% on a year-over-year basis.
Teekay (TK) opened at $8.76 on Wednesday. Teekay has a 52-week low of $5.14 and a 52-week high of $11.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.28.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.51%. Teekay’s dividend payout ratio (DPR) is presently -13.50%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TK. Voya Investment Management LLC grew its stake in shares of Teekay by 25.8% during the second quarter. Voya Investment Management LLC now owns 22,518 shares of the shipping company’s stock valued at $150,000 after buying an additional 4,617 shares during the last quarter. American Asset Management Inc. bought a new position in shares of Teekay during the second quarter valued at approximately $181,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Teekay during the third quarter valued at approximately $212,000. Benchmark Capital Advisors bought a new position in shares of Teekay during the second quarter valued at approximately $243,000. Finally, Fondren Management LP bought a new position in shares of Teekay during the second quarter valued at approximately $267,000. 27.94% of the stock is currently owned by hedge funds and other institutional investors.
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Teekay 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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