Teekay (NYSE:TK) Releases Earnings Results, Beats Expectations By $0.44 EPS

Teekay (NYSE:TK) announced its earnings results on Wednesday. The shipping company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.11 by $0.44, Zacks reports. The business had revenue of $285.82 million during the quarter, compared to the consensus estimate of $266.66 million. Teekay had a net margin of 10.33% and a return on equity of 4.76%.

Teekay Stock Performance

NYSE:TK traded up $0.18 during mid-day trading on Thursday, reaching $13.35. 70,824 shares of the company’s stock were exchanged, compared to its average volume of 568,353. Teekay has a one year low of $7.11 and a one year high of $14.38. The business’s fifty day simple moving average is $12.53 and its two-hundred day simple moving average is $10.89. The firm has a market capitalization of $1.16 billion, a PE ratio of 11.71 and a beta of 0.23.

Teekay Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, May 26th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Teekay by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after buying an additional 1,404 shares in the last quarter. Empowered Funds LLC raised its holdings in Teekay by 0.5% in the 4th quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock valued at $4,279,000 after acquiring an additional 2,382 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Teekay by 7.0% during the 4th quarter. Verition Fund Management LLC now owns 38,408 shares of the shipping company’s stock worth $347,000 after purchasing an additional 2,500 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Teekay by 17.3% in the second quarter. Evergreen Capital Management LLC now owns 18,428 shares of the shipping company’s stock worth $152,000 after purchasing an additional 2,721 shares during the period. Finally, Transamerica Financial Advisors LLC increased its position in shares of Teekay by 250.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares during the period. 46.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.