Teekay Corp. (NYSE:TK) shares were down 3.8% during mid-day trading on Wednesday . The company traded as low as $7.10 and last traded at $7.29, with a volume of 792,834 shares trading hands. The stock had previously closed at $7.58.

A number of research analysts have issued reports on TK shares. Wells Fargo & Co. restated a “hold” rating on shares of Teekay Corp. in a research note on Thursday, July 7th. Jefferies Group restated a “hold” rating and issued a $9.00 price objective on shares of Teekay Corp. in a research note on Wednesday, July 6th. Zacks Investment Research downgraded Teekay Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Credit Suisse Group AG restated a “hold” rating and issued a $6.00 price objective on shares of Teekay Corp. in a research note on Wednesday, May 25th. Finally, Morgan Stanley upped their price objective on Teekay Corp. from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.47.

The stock has a 50 day moving average price of $8.31 and a 200 day moving average price of $8.45. The company has a market cap of $524.98 million and a price-to-earnings ratio of 12.39.

Teekay Corp. (NYSE:TK) last announced its quarterly earnings data on Thursday, May 19th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.28. The business earned $641.10 million during the quarter, compared to analyst estimates of $605.60 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities analysts expect that Teekay Corp. will post $0.60 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, July 27th.

Several hedge funds have bought and sold shares of the company. Morgan Stanley raised its stake in Teekay Corp. by 692.4% in the fourth quarter. Morgan Stanley now owns 1,472,248 shares of the company’s stock worth $14,531,000 after buying an additional 1,286,450 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in Teekay Corp. during the fourth quarter worth approximately $3,895,000. California Public Employees Retirement System raised its stake in Teekay Corp. by 79.8% in the fourth quarter. California Public Employees Retirement System now owns 222,600 shares of the company’s stock worth $2,197,000 after buying an additional 98,800 shares during the last quarter. Afam Capital Inc. acquired a new stake in Teekay Corp. during the fourth quarter worth approximately $2,161,000. Finally, Russell Frank Co raised its stake in Teekay Corp. by 8.3% in the fourth quarter. Russell Frank Co now owns 210,073 shares of the company’s stock worth $1,986,000 after buying an additional 16,027 shares during the last quarter.

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 through its subsidiary Teekay LNG Partners L.P.

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