$267.37 Million in Sales Expected for Teekay Offshore Partners L.P. (TOO) This Quarter

Wall Street analysts forecast that Teekay Offshore Partners L.P. (NYSE:TOO) will post sales of $267.37 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Teekay Offshore Partners’ earnings. The lowest sales estimate is $262.70 million and the highest is $272.04 million. Teekay Offshore Partners posted sales of $251.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The company is scheduled to report its next quarterly earnings report on Thursday, May 17th.

On average, analysts expect that Teekay Offshore Partners will report full-year sales of $267.37 million for the current financial year, with estimates ranging from $1.10 billion to $1.21 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.18 billion per share, with estimates ranging from $1.00 billion to $1.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Teekay Offshore Partners.

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Teekay Offshore Partners (NYSE:TOO) last issued its quarterly earnings data on Thursday, February 22nd. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The company had revenue of $295.70 million for the quarter, compared to the consensus estimate of $279.56 million. Teekay Offshore Partners had a positive return on equity of 3.87% and a negative net margin of 28.37%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share.

A number of analysts have commented on TOO shares. ValuEngine raised Teekay Offshore Partners from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Morgan Stanley raised Teekay Offshore Partners from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective for the company in a report on Monday, February 12th. Finally, Zacks Investment Research raised Teekay Offshore Partners from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.19.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aquamarine Capital Management LLC purchased a new position in shares of Teekay Offshore Partners in the 4th quarter worth approximately $2,360,000. HITE Hedge Asset Management LLC purchased a new position in shares of Teekay Offshore Partners in the 3rd quarter worth approximately $3,016,000. Stockman Wealth Management Inc. purchased a new position in shares of Teekay Offshore Partners in the 4th quarter worth approximately $391,000. Evergreen Capital Management LLC boosted its stake in shares of Teekay Offshore Partners by 44.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,442,062 shares of the shipping company’s stock worth $3,432,000 after buying an additional 441,130 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Teekay Offshore Partners by 51.4% in the 4th quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock worth $271,000 after buying an additional 39,018 shares during the last quarter. Hedge funds and other institutional investors own 77.87% of the company’s stock.

Shares of TOO stock remained flat at $$2.37 on Wednesday. The company had a trading volume of 589,480 shares, compared to its average volume of 395,099. The company has a current ratio of 0.49, a quick ratio of 0.54 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $971.81, a P/E ratio of -1.23, a price-to-earnings-growth ratio of 2.55 and a beta of 2.58. Teekay Offshore Partners has a 12 month low of $1.65 and a 12 month high of $5.72.

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Teekay Offshore Partners Company Profile

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.

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