Teekay (NYSE:TK) Issues Earnings Results

Teekay (NYSE:TK) released its quarterly earnings results on Wednesday. The shipping company reported $0.40 earnings per share (EPS) for the quarter, Zacks reports.

Teekay Stock Up 2.5%

Shares of NYSE TK traded up $0.29 during trading hours on Wednesday, hitting $11.86. The company had a trading volume of 610,408 shares, compared to its average volume of 572,187. Teekay has a 1-year low of $5.65 and a 1-year high of $11.95. The firm’s 50 day moving average is $9.75 and its 200-day moving average is $9.08. The stock has a market capitalization of $1.09 billion, a P/E ratio of 8.41 and a beta of 0.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Teekay has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TK. Transamerica Financial Advisors LLC lifted its stake in Teekay by 250.8% in 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 last quarter. Zions Bancorporation National Association UT bought a new position in shares of Teekay during the 4th quarter worth approximately $43,000. Cubist Systematic Strategies LLC bought a new stake in Teekay in the 1st quarter valued at $48,000. Tower Research Capital LLC TRC lifted its holdings in Teekay by 194.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 5,022 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Teekay by 1,008.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock valued at $86,000 after purchasing an additional 9,513 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors and hedge funds.

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.