Teekay Corporation (TK) Getting Somewhat Favorable Press Coverage, Analysis Shows

Media coverage about Teekay Corporation (NYSE:TK) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Teekay Corporation earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave news headlines about the shipping company an impact score of 45.7603163423662 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

Here are some of the news headlines that may have impacted Accern’s analysis:

• 52.9% Return Seen to Date on SmarTrend Teekay Corp Call (TK) (mysmartrend.com)
• Teekay Corporation (TK) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com)
• Head to Head Analysis: Teekay Corporation (NYSE:TK) and Crude Carriers Corp. (CRU) (americanbankingnews.com)
• Teekay Corporation (TK) is Dividend Yielding stock with rate of 2.30% – Voice Of Analysts (analystsbuzz.com)
• Teekay Offshore Dodges A Bullet – Seeking Alpha (seekingalpha.com)

TK has been the subject of several recent research reports. Morgan Stanley lowered shares of Teekay Corporation from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $8.00 to $3.00 in a research note on Friday, June 9th. BidaskClub downgraded shares of Teekay Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “hold” rating on shares of Teekay Corporation in a research report on Friday, June 16th. ValuEngine upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $7.00 price target on shares of Teekay Corporation in a research report on Friday, May 19th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.33.

Shares of Teekay Corporation (TK) traded up 1.94% during midday trading on Tuesday, hitting $9.99. 1,406,786 shares of the company traded hands. Teekay Corporation has a 12-month low of $5.14 and a 12-month high of $11.77. The stock’s 50-day moving average is $7.01 and its 200 day moving average is $8.40. The stock’s market capitalization is $861.73 million.

Teekay Corporation (NYSE:TK) last released its quarterly earnings data on Thursday, May 18th. The shipping company reported ($0.41) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $543.50 million for the quarter, compared to the consensus estimate of $497.83 million. During the same period in the previous year, the business earned ($0.08) EPS. The firm’s revenue was down 15.2% compared to the same quarter last year. On average, analysts expect that Teekay Corporation will post ($1.07) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, August 4th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.20%. The ex-dividend date is Wednesday, August 2nd. Teekay Corporation’s payout ratio is -13.41%.

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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.