Zacks: Brokerages Expect Teekay Co. (TK) to Announce -$0.10 EPS

Analysts expect Teekay Co. (NYSE:TK) to announce ($0.10) earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Teekay’s earnings. Teekay posted earnings of ($0.44) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 77.3%. The company is scheduled to issue its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Teekay will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from ($0.20) to $0.81. For the next fiscal year, analysts expect that the company will report earnings of $0.10 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Teekay.

Teekay (NYSE:TK) last released its quarterly earnings data on Thursday, May 17th. The shipping company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11). The company had revenue of $394.02 million during the quarter, compared to the consensus estimate of $296.76 million. Teekay had a negative net margin of 7.32% and a negative return on equity of 3.24%. The company’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.41) EPS.

A number of research firms recently commented on TK. ValuEngine upgraded Teekay from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Teekay from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. Finally, Morgan Stanley increased their price target on Teekay from $3.00 to $6.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Teekay has a consensus rating of “Hold” and an average target price of $8.00.

Teekay traded down $0.06, reaching $8.05, on Friday, according to Marketbeat. The company had a trading volume of 1,404,438 shares, compared to its average volume of 638,305. The company has a market capitalization of $808.49 million, a PE ratio of -5.83 and a beta of 1.31. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.27. Teekay has a 52 week low of $5.14 and a 52 week high of $10.90.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 16th. Shareholders of record on Friday, May 4th were issued a $0.055 dividend. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $0.22 annualized dividend and a dividend yield of 2.73%. Teekay’s dividend payout ratio (DPR) is currently -15.94%.

Several institutional investors have recently made changes to their positions in TK. Schwab Charles Investment Management Inc. increased its holdings in shares of Teekay by 6.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 739,330 shares of the shipping company’s stock worth $6,891,000 after acquiring an additional 48,018 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Teekay by 24.0% in the fourth quarter. Malaga Cove Capital LLC now owns 127,916 shares of the shipping company’s stock worth $1,192,000 after acquiring an additional 24,793 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Teekay in the fourth quarter worth about $888,000. Wellington Shields & Co. LLC increased its holdings in shares of Teekay by 3.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 223,200 shares of the shipping company’s stock worth $2,080,000 after acquiring an additional 8,200 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Teekay by 2.6% during the fourth quarter. California Public Employees Retirement System now owns 268,605 shares of the shipping company’s stock worth $2,503,000 after buying an additional 6,848 shares in the last quarter. Institutional investors own 24.13% of the company’s stock.

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 storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.

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