Teekay Corp. (TK) Trading Up 3%
Shares of Teekay Corp. (NYSE:TK) were up 3% during trading on Monday . The company traded as high as $6.86 and last traded at $6.84, with a volume of 845,128 shares changing hands. The stock had previously closed at $6.64.
A number of analysts recently commented on TK shares. Jefferies Group reaffirmed a “hold” rating and set a $9.00 price target on shares of Teekay Corp. in a research report on Wednesday, July 6th. Credit Suisse Group AG set a $6.00 target price on Teekay Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. Morgan Stanley raised 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. Zacks Investment Research raised Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Wednesday, June 29th. Finally, TheStreet downgraded Teekay Corp. from a “hold” rating to a “sell” rating in a research report 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. The company currently has an average rating of “Hold” and an average price target of $14.25.
The company has a 50-day moving average price of $6.70 and a 200-day moving average price of $8.31. The company’s market capitalization is $496.76 million.
Teekay Corp. (NYSE:TK) last released its quarterly earnings data 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. During the same period last year, the company posted $0.27 earnings per share. The business earned $587.60 million during the quarter, compared to the consensus estimate of $558.42 million. The business’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Teekay Corp. will post ($0.22) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Friday, July 29th were given a $0.055 dividend. The ex-dividend date was Wednesday, July 27th. This represents a $0.22 annualized dividend and a yield of 3.23%.
A hedge fund recently raised its stake in Teekay Corp. stock. Morgan Stanley raised its stake in shares of Teekay Corp. (NYSE:TK) by 692.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,472,248 shares of the company’s stock after buying an additional 1,286,450 shares during the period. Morgan Stanley owned approximately 2.02% of Teekay Corp. worth $14,531,000 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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