Teekay (NYSE:TK – Get Free Report) posted its earnings results on Wednesday. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.44, Zacks reports. Teekay had a net margin of 10.33% and a return on equity of 4.76%.
Teekay Stock Performance
TK stock traded down $0.17 during mid-day trading on Wednesday, hitting $13.26. The company had a trading volume of 728,672 shares, compared to its average volume of 574,001. The firm has a market cap of $1.15 billion, a PE ratio of 11.73 and a beta of 0.23. Teekay has a 12 month low of $7.11 and a 12 month high of $14.38. The stock’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $10.86.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised shares of Teekay from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Teekay currently has a consensus rating of “Hold”.
Institutional Investors Weigh In On Teekay
Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Teekay by 4.5% in the 1st 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 boosted its holdings in shares of Teekay by 0.5% in the fourth quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock worth $4,279,000 after acquiring an additional 2,382 shares during the period. Verition Fund Management LLC grew its position in shares of Teekay by 7.0% in the fourth quarter. Verition Fund Management LLC now owns 38,408 shares of the shipping company’s stock valued at $347,000 after purchasing an additional 2,500 shares in the last quarter. Evergreen Capital Management LLC grew 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 valued at $152,000 after purchasing an additional 2,721 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 3,130 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.
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.
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