Teekay Corp. (TK) Stock Price Up 3.1%
Teekay Corp. (NYSE:TK)’s share price rose 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 changing hands. The stock had previously closed at $7.01.
TK has been the subject of several research reports. Zacks Investment Research raised Teekay Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, April 27th. Morgan Stanley increased their price objective on Teekay Corp. from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, May 31st. Credit Suisse Group AG set a $6.00 price objective on Teekay Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Jefferies Group set a $7.00 price objective on Teekay Corp. and gave the company a “hold” rating in a report on Wednesday, July 27th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Teekay Corp. in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.25.
The firm’s market cap is $498.94 million. The stock has a 50 day moving average price of $6.70 and a 200 day moving average price of $8.27.
Teekay Corp. (NYSE:TK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The firm earned $587.60 million during the quarter, compared to analysts’ expectations of $558.42 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Teekay Corp.’s revenue was down .9% on a year-over-year basis. Analysts expect that Teekay Corp. will post ($0.22) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Friday, July 29th were issued a $0.055 dividend. 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 3.22%.
An institutional investor recently bought a new position in Teekay Corp. stock. Trexquant Investment LP acquired a new position in Teekay Corp. (NYSE:TK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 115,439 shares of the company’s stock, valued at approximately $1,139,000. Trexquant Investment LP owned approximately 0.16% of Teekay Corp. as of its most recent filing with the SEC.
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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