Teekay Corp. (TK) Stock Price Up 2.3%
Teekay Corp. (NYSE:TK) rose 2.3% on Monday . The company traded as high as $7.26 and last traded at $7.18, with a volume of 587,195 shares. The stock had previously closed at $7.02.
TK has been the topic of a number of recent research reports. Wells Fargo & Co. reissued a “hold” rating on shares of Teekay Corp. in a research report on Thursday, July 7th. Jefferies Group reissued a “hold” rating and set a $9.00 target price on shares of Teekay Corp. in a research report on Wednesday, July 6th. Zacks Investment Research downgraded Teekay Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Credit Suisse Group AG reissued a “hold” rating and set a $6.00 target price on shares of Teekay Corp. in a research report on Wednesday, May 25th. Finally, Morgan Stanley lifted their target price on Teekay Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Teekay Corp. currently has a consensus rating of “Hold” and a consensus price target of $18.47.
The company has a 50-day moving average of $7.96 and a 200 day moving average of $8.36. The firm has a market cap of $500.96 million and a price-to-earnings ratio of 11.8215.
Teekay Corp. (NYSE:TK) last issued its earnings results 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 firm had revenue of $641.10 million for the quarter, compared to the consensus estimate of $605.60 million. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. On average, analysts anticipate that Teekay Corp. will post $0.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Friday, July 29th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.18%.
A number of hedge funds and institutional investors recently added to or reduced their stakes in TK. Trexquant Investment LP bought a new position in Teekay Corp. during the fourth quarter valued at $1,139,000. Morgan Stanley boosted its position in Teekay Corp. by 692.4% in the fourth quarter. Morgan Stanley now owns 1,472,248 shares of the company’s stock valued at $14,531,000 after buying an additional 1,286,450 shares in the last quarter. Afam Capital Inc. bought a new position in Teekay Corp. during the fourth quarter valued at $2,161,000. Quantitative Investment Management LLC bought a new position in Teekay Corp. during the fourth quarter valued at $3,895,000. Finally, California Public Employees Retirement System boosted its position 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 valued at $2,197,000 after buying an additional 98,800 shares in 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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