Teekay (NYSE:TK – Get Free Report) announced its quarterly earnings data on Wednesday. The shipping company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.11 by $0.68, RTT News reports. The company had revenue of $379.12 million for the quarter, compared to the consensus estimate of $295.76 million. Teekay had a net margin of 13.03% and a return on equity of 6.36%. During the same period in the prior year, the firm posted $0.22 EPS.
Teekay Trading Down 1.9%
NYSE:TK traded down $0.22 during mid-day trading on Thursday, reaching $11.23. The company’s stock had a trading volume of 85,929 shares, compared to its average volume of 587,145. Teekay has a 12-month low of $7.11 and a 12-month high of $14.38. The firm’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $11.71. The stock has a market cap of $974.89 million, a P/E ratio of 7.43 and a beta of 0.22.
Teekay Dividend Announcement
The firm also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a $1.00 dividend. The ex-dividend date was Tuesday, May 26th.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on TK
Insider Activity at Teekay
In other news, CFO Brody Speers sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $12.15, for a total transaction of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares of the company’s stock, valued at $40,872.60. The trade was a 62.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rudolph Krediet sold 63,042 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $11.80, for a total transaction of $743,895.60. Following the transaction, the director directly owned 35,167 shares of the company’s stock, valued at $414,970.60. The trade was a 64.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 408,818 shares of company stock worth $5,014,530 over the last quarter. 2.38% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Teekay
A number of large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Teekay during the 1st quarter valued at $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $213,000 after acquiring an additional 1,404 shares during the period. Millennium Management LLC grew its holdings in shares of Teekay by 153.8% in the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after acquiring an additional 720,093 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Teekay during the first quarter valued at $267,000. Finally, Jane Street Group LLC increased its position in Teekay by 82.3% during the first quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after acquiring an additional 72,240 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.
About Teekay
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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