Teekay Corp. (TK) Trading 6% Higher
Teekay Corp. (NYSE:TK) shares traded up 6% during trading on Monday . The stock traded as high as $7.50 and last traded at $7.42, with a volume of 1,093,200 shares traded. The stock had previously closed at $7.00.
Several research analysts have commented on the company. Credit Suisse Group AG set a $6.00 target price on Teekay Corp. and gave the stock a “hold” rating in a report on Friday, August 5th. TheStreet downgraded Teekay Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Zacks Investment Research lowered Teekay Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Morgan Stanley lifted their price objective 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. Finally, Jefferies Group reissued a “hold” rating and issued a $9.00 price objective on shares of Teekay Corp. in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.25.
The company’s 50 day moving average price is $6.70 and its 200 day moving average price is $8.29. The stock’s market capitalization is $629.45 million.
Teekay Corp. (NYSE:TK) last released its earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.07. The firm earned $587.60 million during the quarter, compared to the consensus estimate of $558.42 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Teekay Corp. will post $0.08 earnings per share for the current fiscal year.
The firm also recently declared 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 was Wednesday, July 27th. This represents a $0.22 annualized dividend and a 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.