Teekay (NYSE:TK) Releases Quarterly Earnings Results

Teekay (NYSE:TK) released its quarterly earnings results on Friday. The shipping company reported $0.37 EPS for the quarter, FiscalAI reports. Teekay had a return on equity of 5.02% and a net margin of 10.33%.The business had revenue of $243.09 million for the quarter.

Teekay Trading Down 1.4%

Teekay stock opened at $10.98 on Friday. Teekay has a 1 year low of $5.65 and a 1 year high of $13.76. The company has a market cap of $1.01 billion, a PE ratio of 9.72 and a beta of 0.13. The company’s 50-day moving average is $10.87 and its two-hundred day moving average is $9.65.

Institutional Investors Weigh In On Teekay

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Teekay by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,326,069 shares of the shipping company’s stock valued at $48,094,000 after buying an additional 48,309 shares during the period. American Century Companies Inc. boosted its stake in Teekay by 6.5% in the third quarter. American Century Companies Inc. now owns 2,401,121 shares of the shipping company’s stock valued at $19,641,000 after acquiring an additional 147,009 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Teekay by 5.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,215,192 shares of the shipping company’s stock worth $18,120,000 after acquiring an additional 110,755 shares during the period. JPMorgan Chase & Co. grew its holdings in Teekay by 130.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock worth $16,366,000 after acquiring an additional 1,122,843 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Teekay by 25.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,753,892 shares of the shipping company’s stock valued at $15,469,000 after acquiring an additional 359,376 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.