Teekay (NYSE:TK) Releases Quarterly Earnings Results, Beats Estimates By $0.59 EPS

Teekay (NYSE:TK) posted its quarterly earnings data on Wednesday. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.59, Zacks reports. Teekay had a return on equity of 7.91% and a net margin of 15.78%.

Teekay Price Performance

Teekay stock traded up $0.41 during midday trading on Wednesday, hitting $13.32. 467,815 shares of the company were exchanged, compared to its average volume of 567,519. The company’s fifty day moving average price is $14.15 and its 200-day moving average price is $12.48. The company has a market cap of $1.16 billion, a PE 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.

Insider Activity at Teekay

In related news, 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 value of $30,785.00. Following the completion of the transaction, the chief financial officer directly owned 1,014 shares in the company, valued at approximately $13,283.40. This trade represents a 69.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heidi Simon sold 11,585 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $14.08, for a total value of $163,116.80. Following the sale, the director owned 46,001 shares in the company, valued at approximately $647,694.08. The trade was a 20.12% decrease in their position. 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 over the last ninety days. Corporate insiders own 2.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TK shares. Weiss Ratings raised shares of Teekay from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Wall Street Zen upgraded shares of Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company 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.