Earnings Estimates Revision Trends: Teekay Offshore Partners LP (TOO)

Marco Green
November 14, 2017

The shares price has directed -54.66% toward a lower level throughout previous year and swapped -1.56% toward a weak spot during past one month. The stock of Teekay LNG Partners L.P. (NYSE:TGP) has "Neutral" rating given on Thursday, December 17 by Seaport Global Securities.

Teekay LNG Partners L.P.is an worldwide provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Teekay LNG Partners L.P. from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Previously Teekay Offshore Partners LP (NYSE:TOO) reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $1.84 with surprise factor of 4600%. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. The company presently has a consensus rating of Hold and a consensus target price of $17.50. (NYSE:TGP) traded up 1.29% during midday trading on Wednesday, hitting $15.65. TOO stock acknowledged attractive focus from Investors and it has been trading on front line. The company's forward price to earnings ratio for next fiscal year is 5.98.

Among 7 analysts covering Teekay LNG Partners L.P. Teekay Offshore Partners LP (NYSE:TOO)'s price sits -0.19% off from its 50-day moving average of $2.57 and -30.15% away from the stock's 200-day moving average which is $2.85. The stock of Teekay LNG Partners L.P. (NYSE:TGP) earned "Hold" rating by Stifel Nicolaus on Thursday, October 12. Jefferies Group analyst R. Giveans now forecasts that the shipping company will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.33.

Teekay LNG Partners L.P. has a twelve month low of $13.27 and a twelve month high of $19.90. The firm has "Buy" rating by UBS given on Friday, November 10. Stockholders of record on Friday, November 4th will be paid a $0.14 dividend. The ex-dividend date was Thursday, November 2nd.

Many analysts are providing their Estimated Earnings analysis for Teekay Offshore Partners LP and for the current quarter 3 analysts have projected that the stock could give an Average Earnings estimate of $0.12/share.

Large investors have recently added to or reduced their stakes in the company.

While having a peek at profitability ratios Teekay Offshore Partners LP (NYSE:TOO) has trailing twelve month gross margin at 52.8%, its trailing twelve month operating margin stands at 0% whereas its trailing twelve month net profit margin spots at 0%. Virtu KCG Holdings LLC bought a new stake in Teekay LNG Partners L.P. during the 2nd quarter worth approximately $249,000. Toronto Dominion Bank grew its holdings in Teekay LNG Partners L.P.by 103.7% during the 3rd quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company's stock worth $205,000 after acquiring an additional 746 shares during the last quarter. Finally, Trust Asset Management LLC boosted its stake in Teekay LNG Partners L.P.by 2.5% in the second quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company's stock worth $256,000 after purchasing an additional 403,411 shares during the last quarter.

While looking at the Stock's Performance, Teekay Offshore Partners LP now shows a Weekly Performance of -6.39%, where Monthly Performance is -6.04%, Quarterly performance is -1.58%, 6 Months performance is -43.79% and yearly performance percentage is -55.46%.

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