Teekay (NYSE:TK) Issues Quarterly Earnings Results

Teekay (NYSE:TK) posted its quarterly earnings results on Wednesday. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.09 by $0.59, Zacks reports. Teekay had a return on equity of 9.23% and a net margin of 16.41%. The firm had revenue of $368.93 million during the quarter, compared to analysts’ expectations of $688.05 million. During the same quarter in the prior year, the firm posted $2.64 EPS.

Teekay Stock Performance

Shares of Teekay stock opened at $13.34 on Friday. The firm’s 50-day simple moving average is $14.16 and its 200-day simple moving average is $12.51. Teekay has a twelve month low of $8.67 and a twelve month high of $15.90. The firm has a market cap of $1.16 billion, a P/E ratio of 5.51 and a beta of 0.37.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded Teekay from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Teekay has an average rating of “Buy”.

Insider Activity at Teekay

In related news, CFO Brody Speers sold 2,350 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $13.10, for a total value of $30,785.00. Following the completion of the transaction, the chief financial officer owned 1,014 shares of the company’s stock, valued at $13,283.40. This represents a 69.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth Hvid sold 132,884 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $14.28, for a total transaction of $1,897,583.52. Following the transaction, the chief executive officer owned 105,500 shares of the company’s stock, valued at approximately $1,506,540. This represents a 55.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 148,800 shares of company stock valued at $2,118,785 over the last quarter. 2.38% of the stock is owned by company insiders.

About Teekay

Teekay is an international marine transportation company with a focus on shipping energy products. Its activities include ownership and operation of crude oil and refined petroleum product tankers, primarily through its subsidiary Teekay Tankers. Teekay Tankers serves oil companies, traders and other energy-sector customers, transporting cargoes on routes around the world. The company’s fleet includes vessels designed to carry crude oil and petroleum products. Founded in 1973, Teekay has developed from a tanker operator into a marine transportation group with interests in energy shipping.