Teekay Corp. (TK) Trading Down 1.8%
Teekay Corp. (NYSE:TK) shares traded down 1.8% on Thursday . The stock traded as low as $6.87 and last traded at $7.10, with a volume of 878,038 shares changing hands. The stock had previously closed at $7.23.
Several research analysts have weighed in on the stock. Credit Suisse Group AG set a $6.00 price target on shares of Teekay Corp. and gave the company a “hold” rating in a report on Friday, August 5th. TheStreet cut shares of Teekay Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Zacks Investment Research cut shares of Teekay Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. Morgan Stanley increased their price target on shares of Teekay Corp. from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, May 31st. Finally, Jefferies Group reissued a “hold” rating and issued a $9.00 price target on shares of Teekay Corp. in a report on Wednesday, July 6th. One 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 stock. The company currently has a consensus rating of “Hold” and an average target price of $14.25.
The stock’s market cap is $510.62 million. The stock has a 50 day moving average of $6.70 and a 200-day moving average of $8.31.
Teekay Corp. (NYSE:TK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. The firm had revenue of $587.60 million for the quarter, compared to analysts’ expectations of $558.42 million. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. Equities research analysts forecast that Teekay Corp. will post $0.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Friday, July 29th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 3.14%. The ex-dividend date was Wednesday, July 27th.
A hedge fund recently raised its stake in Teekay Corp. stock. Morgan Stanley boosted its stake in Teekay Corp. (NYSE:TK) by 692.4% during the fourth quarter, according to its most recent 13F 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 about 2.02% of Teekay Corp. worth $14,531,000 at the end of the most recent reporting period.
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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