Teekay Corporation (TK) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Teekay Corporation (NYSE:TK) announced its earnings results on Thursday. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.03, RTT News reports. The company had revenue of $500.80 million during the quarter, compared to analyst estimates of $475.32 million. Teekay Corporation had a negative net margin of 6.66% and a negative return on equity of 3.18%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) earnings per share.
Teekay Corporation (NYSE:TK) opened at $9.12 on Friday. Teekay Corporation has a 12-month low of $5.14 and a 12-month high of $11.77. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.55 and a current ratio of 0.55.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd will be given 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 dividend yield of 2.41%. Teekay Corporation’s payout ratio is currently -13.33%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Teekay Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 price target on shares of Teekay Corporation in a research report on Thursday, October 12th. ValuEngine lowered shares of Teekay Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of Teekay Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.00.
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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