Teekay (NYSE:TK) Announces Earnings Results

Teekay (NYSE:TK) posted its quarterly earnings data on Thursday. The shipping company reported ($0.13) earnings per share for the quarter, Morningstar.com reports. Teekay had a negative net margin of 7.96% and a negative return on equity of 1.67%. The firm had revenue of $358.99 million during the quarter.

Teekay stock traded down $0.12 during midday trading on Friday, reaching $4.09. The company’s stock had a trading volume of 477,200 shares, compared to its average volume of 702,604. Teekay has a fifty-two week low of $2.82 and a fifty-two week high of $7.49. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.64. The company’s 50 day simple moving average is $3.80. The company has a market capitalization of $441.00 million, a price-to-earnings ratio of -7.72 and a beta of 1.52.

TK has been the subject of a number of recent analyst reports. Wells Fargo & Co set a $4.00 target price on Teekay and gave the company a “hold” rating in a report on Friday, May 31st. ValuEngine raised Teekay from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded Teekay from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.19.

Institutional investors have recently added to or reduced their stakes in the business. Mraz Amerine & Associates Inc. acquired a new position in shares of Teekay in the second quarter valued at approximately $45,000. Quinn Opportunity Partners LLC acquired a new position in shares of Teekay in the first quarter valued at approximately $497,000. SG Americas Securities LLC acquired a new position in shares of Teekay in the first quarter valued at approximately $91,000. BNP Paribas Arbitrage SA grew its position in shares of Teekay by 478.5% in the first quarter. BNP Paribas Arbitrage SA now owns 14,301 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 11,829 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Teekay in the first quarter valued at approximately $140,000. 20.90% of the stock is owned by institutional investors.

Teekay Company Profile

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.

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Earnings History for Teekay (NYSE:TK)

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