Analysts Anticipate Teekay Corporation (TK) Will Post Quarterly Sales of $477.80 Million

Equities analysts expect Teekay Corporation (NYSE:TK) to post $477.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Teekay Corporation’s earnings, with the highest sales estimate coming in at $479.19 million and the lowest estimate coming in at $476.41 million. Teekay Corporation posted sales of $510.43 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.4%. The business is scheduled to report its next earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Teekay Corporation will report full year sales of $477.80 million for the current financial year, with estimates ranging from $1.95 billion to $2.02 billion. For the next financial year, analysts expect that the company will post sales of $2.34 billion per share, with estimates ranging from $2.30 billion to $2.36 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Teekay Corporation.

Teekay Corporation (NYSE:TK) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by $0.07. The company had revenue of $513.90 million during the quarter, compared to the consensus estimate of $503.65 million. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.82%. The company’s revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.01 earnings per share.

Several research analysts have issued reports on the stock. Jefferies Group LLC restated a “hold” rating and set a $8.50 price target on shares of Teekay Corporation in a report on Tuesday, May 2nd. Royal Bank Of Canada restated a “hold” rating on shares of Teekay Corporation in a report on Tuesday, May 9th. BidaskClub upgraded shares of Teekay Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, ValuEngine upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Teekay Corporation presently has a consensus rating of “Hold” and an average target price of $5.33.

Shares of Teekay Corporation (TK) traded up 1.18% during mid-day trading on Tuesday, reaching $9.45. 565,416 shares of the company were exchanged. The stock’s market capitalization is $815.15 million. The firm has a 50-day moving average price of $8.66 and a 200 day moving average price of $8.34. Teekay Corporation has a 12 month low of $5.14 and a 12 month high of $11.77.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Friday, August 4th were paid a $0.055 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $0.22 annualized dividend and a dividend yield of 2.33%. Teekay Corporation’s dividend payout ratio is currently -15.38%.

Several hedge funds have recently added to or reduced their stakes in TK. Teachers Advisors LLC raised its stake in Teekay Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 92,892 shares of the shipping company’s stock valued at $746,000 after buying an additional 7,754 shares in the last quarter. Creative Planning raised its stake in Teekay Corporation by 538.9% in the first quarter. Creative Planning now owns 21,500 shares of the shipping company’s stock valued at $197,000 after buying an additional 18,135 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Teekay Corporation during the first quarter valued at $176,000. Acadian Asset Management LLC bought a new stake in Teekay Corporation during the first quarter valued at $1,882,000. Finally, Russell Investments Group Ltd. bought a new stake in Teekay Corporation during the first quarter valued at $154,000. Institutional investors own 46.41% of the company’s stock.

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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