Teekay (NYSE:TK) Posts Quarterly Earnings Results, Beats Expectations By $0.59 EPS

Teekay (NYSE:TK) issued its quarterly earnings data on Wednesday. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 Trading Up 3.2%

Shares of NYSE:TK traded up $0.41 during trading on Wednesday, hitting $13.32. 467,815 shares of the company were exchanged, compared to its average volume of 567,519. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 6.41 and a beta of 0.37. Teekay has a fifty-two week low of $8.67 and a fifty-two week high of $15.90. The firm has a fifty day moving average price of $14.15 and a two-hundred day moving average price of $12.48.

Insider Buying and Selling at Teekay

In other Teekay news, CFO Brody Speers sold 2,350 shares of Teekay stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $13.10, for a total transaction of $30,785.00. Following the completion of the transaction, the chief financial officer directly owned 1,014 shares of the company’s stock, valued at $13,283.40. The trade was a 69.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kenneth Hvid sold 132,884 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $14.28, for a total transaction of $1,897,583.52. Following the sale, the chief executive officer owned 105,500 shares of the company’s stock, valued at approximately $1,506,540. This represents a 55.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 148,800 shares of company stock valued at $2,118,785 in the last quarter. 2.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TK has been the subject of several research reports. Wall Street Zen raised Teekay from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded shares of Teekay from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Teekay currently has an average rating of “Buy”.

About Teekay

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.