Teekay (NYSE:TK) Releases Earnings Results

Teekay (NYSE:TK) announced its quarterly earnings data on Thursday. The shipping company reported ($0.13) EPS 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.

Shares of Teekay stock traded down $0.12 during trading hours on Friday, hitting $4.09. The company had a trading volume of 477,254 shares, compared to its average volume of 746,440. The company’s 50-day moving average price is $3.80. Teekay has a twelve month low of $2.82 and a twelve month high of $7.49. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $411.78 million, a P/E ratio of -7.72 and a beta of 1.53.

A number of brokerages have commented on TK. ValuEngine raised shares of Teekay from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Teekay from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Wells Fargo & Co set a $4.00 price objective on shares of Teekay and gave the company a “hold” rating in a research report on Friday, May 31st. Four 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 target price of $6.19.

Institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Teekay by 83.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 11,000 shares of the shipping company’s stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. Norges Bank acquired a new position in shares of Teekay in the 4th quarter valued at $38,000. Mraz Amerine & Associates Inc. acquired a new position in shares of Teekay in the 2nd quarter valued at $45,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Teekay by 478.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,301 shares of the shipping company’s stock valued at $56,000 after buying an additional 11,829 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Teekay in the 1st quarter valued at $91,000. Institutional investors and hedge funds own 20.90% of the company’s stock.

About Teekay

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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