Teekay LNG Partners L.P. (TGP) Expected to Post Quarterly Sales of $110.99 Million
Wall Street analysts expect that Teekay LNG Partners L.P. (NYSE:TGP) will report $110.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Teekay LNG Partners’ earnings, with the highest sales estimate coming in at $112.42 million and the lowest estimate coming in at $108.73 million. Teekay LNG Partners reported sales of $100.47 million in the same quarter last year, which indicates a positive year over year growth rate of 10.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Teekay LNG Partners will report full-year sales of $110.99 million for the current fiscal year, with estimates ranging from $411.20 million to $425.67 million. For the next financial year, analysts forecast that the firm will report sales of $520.80 million per share, with estimates ranging from $492.55 million to $570.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Teekay LNG Partners.
TGP has been the subject of several recent analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $16.00 price target on shares of Teekay LNG Partners in a research note on Friday, October 13th. Zacks Investment Research upgraded Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, UBS decreased their price target on Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.
Shares of Teekay LNG Partners (TGP) traded down $0.15 during trading hours on Friday, reaching $19.30. The company’s stock had a trading volume of 276,884 shares, compared to its average volume of 235,349. The stock has a market capitalization of $1,536.80, a PE ratio of 22.18 and a beta of 1.28. Teekay LNG Partners has a 1-year low of $13.80 and a 1-year high of $19.90. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.22.
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About Teekay LNG Partners
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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