ValuEngine upgraded shares of Teekay Corporation (NYSE:TK) from a sell rating to a hold rating in a report issued on Thursday morning.
A number of other equities research analysts have also recently issued reports on TK. Jefferies Group LLC reiterated a hold rating and set a $8.50 price objective on shares of Teekay Corporation in a research note on Monday, March 27th. Zacks Investment Research upgraded Teekay Corporation from a sell rating to a hold rating in a research note on Wednesday, April 26th. Royal Bank Of Canada reiterated a hold rating on shares of Teekay Corporation in a research note on Tuesday, May 9th. Morgan Stanley cut Teekay Corporation from an equal weight rating to an underweight rating and dropped their price objective for the stock from $8.00 to $3.00 in a research note on Friday, June 9th. Finally, BidaskClub cut Teekay Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Teekay Corporation currently has an average rating of Hold and a consensus price target of $5.33.
Teekay Corporation (TK) traded down 1.91% during trading on Thursday, hitting $7.71. 1,219,582 shares of the stock were exchanged. The firm’s 50 day moving average price is $6.51 and its 200-day moving average price is $8.40. Teekay Corporation has a 1-year low of $5.14 and a 1-year high of $11.77. The stock’s market cap is $665.06 million.
Teekay Corporation (NYSE:TK) last announced its quarterly earnings data on Thursday, May 18th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.24. Teekay Corporation had a negative return on equity of 1.86% and a negative net margin of 5.36%. The company had revenue of $543.50 million for the quarter, compared to the consensus estimate of $497.83 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, analysts anticipate that Teekay Corporation will post ($0.96) EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, August 4th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Wednesday, August 2nd. Teekay Corporation’s dividend payout ratio (DPR) is presently -13.41%.
Large investors have recently bought and sold shares of the stock. Nine Chapters Capital Management LLC acquired a new stake in Teekay Corporation during the first quarter worth $141,000. Trexquant Investment LP boosted its stake in Teekay Corporation by 8.6% in the first quarter. Trexquant Investment LP now owns 26,609 shares of the shipping company’s stock worth $243,000 after buying an additional 2,109 shares during the period. Teachers Advisors LLC boosted its stake in Teekay Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 92,892 shares of the shipping company’s stock worth $746,000 after buying an additional 7,754 shares during the period. Russell Investments Group Ltd. acquired a new stake in Teekay Corporation during the first quarter worth $154,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Teekay Corporation by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,994 shares of the shipping company’s stock worth $174,000 after buying an additional 1,816 shares during the period. Institutional investors and hedge funds own 46.64% of the company’s stock.
About Teekay Corporation
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
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