Teekay Offshore (TOO) Crumbles: Stock Falls by 11.9%
Teekay Offshore Partners LP TOO saw a big move last session, as the company’s shares fell by nearly 12% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for TOO, as the stock is now down nearly 24% since Nov 25, 2015.
This slump shouldn’t be too much of a surprise to investors, as the company’s current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
TOO currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
A better-ranked stock in the Transportation–Shipping industry sector is Danaos Corporation DAC, which currently carries a Zacks Rank #1 (Strong Buy).
Is TOO going up? Or down? Predict to see what others think: Up or Down
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DANAOS CORP (DAC): Free Stock Analysis Report
TEEKAY OFFSHORE (TOO): Free Stock Analysis Report
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