Teekay Corp. (TK) Stock Price Down 1.8%
Teekay Corp. (NYSE:TK) traded down 1.8% during trading 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 equities research analysts have issued reports on the company. TheStreet downgraded Teekay Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Credit Suisse Group AG set a $6.00 price target on Teekay Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Zacks Investment Research downgraded Teekay Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. Jefferies Group set a $7.00 price target on Teekay Corp. and gave the company a “hold” rating in a report on Wednesday, July 27th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Teekay Corp. in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.25.
The stock’s market cap is $541.25 million. The firm has a 50-day moving average of $6.70 and a 200-day moving average of $8.29.
Teekay Corp. (NYSE:TK) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm had revenue of $587.60 million for the quarter, compared to the consensus estimate of $558.42 million. The company’s revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that Teekay Corp. will post $0.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Friday, July 29th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.22 annualized dividend and a dividend yield of 2.96%.
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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