Teekay Corp. (TK) Trading 3.1% Higher
Teekay Corp. (NYSE:TK) shares traded up 3.1% on Tuesday . The stock traded as high as $7.26 and last traded at $7.23, with a volume of 831,747 shares traded. The stock had previously closed at $7.01.
Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Teekay Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 31st. Zacks Investment Research raised shares of Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, June 29th. Credit Suisse Group AG reissued a “hold” rating and issued a $6.00 target price on shares of Teekay Corp. in a research report on Wednesday, May 25th. Jefferies Group reissued a “hold” rating and issued a $9.00 target price on shares of Teekay Corp. in a research report on Wednesday, July 6th. Finally, TheStreet downgraded shares of Teekay Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.25.
The company’s market cap is $527.39 million. The company’s 50-day moving average price is $6.68 and its 200 day moving average price is $8.27.
Teekay Corp. (NYSE:TK) last released its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business had revenue of $587.60 million for the quarter, compared to analyst estimates of $558.42 million. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts anticipate that Teekay Corp. will post ($0.22) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Friday, July 29th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.22 dividend on an annualized basis and a yield of 3.04%.
An institutional investor recently bought a new position in Teekay Corp. stock. Trexquant Investment LP purchased a new position in shares of Teekay Corp. (NYSE:TK) during the fourth quarter, according to its most recent 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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