Teekay Corp. (TK) Trading Down 2.4%
Teekay Corp. (NYSE:TK) fell 2.4% during trading on Friday . The stock traded as low as $7.22 and last traded at $7.32, with a volume of 787,095 shares. The stock had previously closed at $7.50.
Several research firms have recently commented on TK. Zacks Investment Research downgraded shares of Teekay Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Wells Fargo & Co. reissued a “hold” rating on shares of Teekay Corp. in a report on Thursday, July 7th. TheStreet cut shares of Teekay Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Credit Suisse Group AG reissued a “hold” rating and set a $6.00 target price on shares of Teekay Corp. in a report on Wednesday, May 25th. Finally, Jefferies Group set a $7.00 target price on shares of Teekay Corp. and gave the stock a “hold” rating in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.25.
The firm’s 50-day moving average price is $6.68 and its 200-day moving average price is $8.25. The stock’s market capitalization is $530.31 million.
Teekay Corp. (NYSE:TK) last issued its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.07. The company earned $587.60 million during the quarter, compared to analyst estimates of $558.42 million. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 EPS. Equities analysts expect that Teekay Corp. will post ($0.22) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Friday, July 29th were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, July 27th.
An institutional investor recently bought a new position in Teekay Corp. stock. Trexquant Investment LP purchased a new position in Teekay Corp. (NYSE:TK) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 115,439 shares of the company’s stock, valued at approximately $1,139,000. Trexquant Investment LP owned approximately 0.16% of Teekay Corp. at the end of the most recent 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, as well as in the operations in the offshore production, storage and transportation sector.
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