$530.62 Million in Sales Expected for Teekay Co. (TK) This Quarter

Analysts expect that Teekay Co. (NYSE:TK) will announce sales of $530.62 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Teekay’s earnings, with the lowest sales estimate coming in at $508.35 million and the highest estimate coming in at $552.90 million. Teekay reported sales of $510.97 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is expected to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Teekay will report full year sales of $530.62 million for the current financial year, with estimates ranging from $1.93 billion to $1.99 billion. For the next year, analysts expect 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 calculations are an average based on a survey of research firms that that provide coverage for Teekay.

Teekay (NYSE:TK) last posted its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.03. Teekay had a negative net margin of 6.66% and a negative return on equity of 3.48%. The firm had revenue of $500.80 million for the quarter, compared to the consensus estimate of $475.32 million. During the same quarter in the previous year, the company earned ($0.23) earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year.

TK has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Teekay from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Jefferies Group reiterated a “hold” rating and set a $8.00 price target on shares of Teekay in a research note on Thursday, October 12th. Finally, ValuEngine downgraded shares of Teekay from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.00.

Shares of Teekay (TK) opened at $8.28 on Friday. Teekay has a 52 week low of $5.14 and a 52 week high of $11.15. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $714.26, a price-to-earnings ratio of -5.08 and a beta of 1.69.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.055 per share. The ex-dividend date is Thursday, February 1st. This represents a $0.22 dividend on an annualized basis and a yield of 2.66%. Teekay’s dividend payout ratio is currently -13.50%.

A number of institutional investors and hedge funds have recently bought and sold shares of TK. Voya Investment Management LLC lifted its holdings 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 acquiring an additional 4,617 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Teekay during the third quarter valued at $212,000. Fondren Management LP bought a new position in shares of Teekay during the second quarter valued at $267,000. Fox Run Management L.L.C. bought a new position in shares of Teekay during the third quarter valued at $296,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Teekay during the second quarter valued at $306,000. Hedge funds and other institutional investors own 26.32% of the company’s stock.

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About Teekay

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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