Teekay Corp. (TK) Shares Down 2.4%
Teekay Corp. (NYSE:TK) shares traded down 2.4% during trading on Friday . The company traded as low as $7.22 and last traded at $7.32, with a volume of 787,095 shares changing hands. The stock had previously closed at $7.50.
A number of research analysts recently issued reports on the company. Morgan Stanley raised their price target on Teekay Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 31st. Zacks Investment Research upgraded Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Wednesday, June 29th. Credit Suisse Group AG restated a “hold” rating and set a $6.00 price target on shares of Teekay Corp. in a research note on Wednesday, May 25th. Jefferies Group restated a “hold” rating and set a $9.00 price target on shares of Teekay Corp. in a research note on Wednesday, July 6th. Finally, TheStreet downgraded Teekay Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Teekay Corp. currently has a consensus rating of “Hold” and an average price target of $14.25.
The company’s market cap is $530.31 million. The firm’s 50-day moving average is $6.69 and its 200 day moving average is $8.25.
Teekay Corp. (NYSE:TK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The business earned $587.60 million during the quarter, compared to analyst estimates of $558.42 million. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. Analysts predict that Teekay Corp. will post ($0.22) earnings per share 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 $0.055 dividend. This represents a $0.22 annualized dividend and a dividend 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 stake in Teekay Corp. (NYSE:TK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 115,439 shares of the company’s stock, valued at approximately $1,139,000. Trexquant Investment LP owned 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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