Teekay (TK) Upgraded to Hold by Zacks Investment Research

Cornelia Mascio
Marzo 20, 2018

Teekay LNG Partners (NYSE:TGP) has been given a $20.00 price target by equities research analysts at Stifel Nicolaus in a report issued on Friday, February 23rd.

Analysts are expecting average earnings estimates of $-0.08 for the current quarter based on the opinion of 1 analysts, relating to high earnings per share estimates of $-0.08 and low estimates of $-0.08, however Teekay Shipping Corp (NYSE:TK) reported $-0.41 earnings per share for the same quarter previous year. UBS dropped their price target on shares of Teekay Offshore Partners from $3.00 to $2.75 and set a buy rating on the stock in a research report on Wednesday, November 15th. For the current year the company's revenue estimates are $1.81 Billion compared to low analyst estimates of $1.27 Billion and high estimates of $2.36 Billion according to the prediction of 2 analysts. ValuEngine cut shares of Teekay from a sell rating to a strong sell rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Citigroup upped their price objective on Teekay LNG Partners from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley raised their price objective on shares of Teekay LNG Partners from $15.00 to $19.00 and gave the company an equal weight rating in a research note on Monday, February 12th. The brokerage now has a "hold" rating on the shipping company's stock. Earnings surprises can have a huge impact on a company's stock price. The company has a market cap of $779.82, a P/E ratio of -4.88 and a beta of 1.42. The firm is yielding 0.40% return on assets and 1.10% return on equity.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, February 22nd. The shipping company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.32 by $0.03. The business had revenue of $122.00 million during the quarter, compared to the consensus estimate of $111.54 million. analysts forecast that Teekay LNG Partners will post 1.58 EPS for the current fiscal year. Teekay had a negative net margin of 8.05% and a negative return on equity of 3.36%. A year ago the company's sales were $492710 while its sales growth yearly estimates for the current quarter are -39.8%.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arrow Investment Advisors LLC lifted its holdings in Teekay Offshore Partners by 141.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 1,998,147 shares of the shipping company's stock valued at $35,567,000 after buying an additional 191,807 shares during the last quarter. Spirit of America Management Corp NY lifted its position in shares of Teekay LNG Partners by 2.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 934,499 shares of the shipping company's stock worth $18,830,000 after buying an additional 146,514 shares during the last quarter.

Luminus Management LLC increased its position in shares of Teekay Offshore Partners L.P. (NYSE:TOO) by 58.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). California Public Employees Retirement System now owns 268,605 shares of the shipping company's stock valued at $2,503,000 after purchasing an additional 6,848 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Teekay in the fourth quarter valued at about $107,000. LLC now owns 223,200 shares of the shipping company's stock valued at $2,080,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Teekay in the fourth quarter valued at about $674,000.

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