Teekay (NYSE:TK – Get Free Report) released its quarterly earnings results on Wednesday. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.09 by $0.59, Zacks reports. Teekay had a net margin of 15.78% and a return on equity of 7.91%.
Teekay Price Performance
NYSE:TK traded up $0.41 on Wednesday, reaching $13.32. The stock had a trading volume of 476,356 shares, compared to its average volume of 568,372. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 6.41 and a beta of 0.37. The firm’s fifty day moving average is $14.15 and its two-hundred day moving average is $12.48. Teekay has a 12-month low of $8.67 and a 12-month high of $15.90.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Wall Street Zen upgraded Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings raised Teekay from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Teekay presently has a consensus rating of “Buy”.
Get Our Latest Stock Report on Teekay
Insiders Place Their Bets
In other news, CEO Kenneth Hvid sold 132,884 shares of Teekay stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $14.28, for a total transaction of $1,897,583.52. Following the completion of the sale, the chief executive officer directly owned 105,500 shares in the company, valued at $1,506,540. The trade was a 55.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brody Speers sold 2,350 shares of Teekay stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $13.10, for a total transaction of $30,785.00. Following the sale, the chief financial officer owned 1,014 shares of the company’s stock, valued at approximately $13,283.40. This trade represents a 69.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 148,800 shares of company stock valued at $2,118,785 in the last ninety days. Insiders own 2.38% of the company’s stock.
Teekay Company Profile
Teekay is an international marine transportation company with a focus on shipping energy products. Its activities include ownership and operation of crude oil and refined petroleum product tankers, primarily through its subsidiary Teekay Tankers. Teekay Tankers serves oil companies, traders and other energy-sector customers, transporting cargoes on routes around the world. The company’s fleet includes vessels designed to carry crude oil and petroleum products. Founded in 1973, Teekay has developed from a tanker operator into a marine transportation group with interests in energy shipping.
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