Teekay Corp. (TK) Stock Price Down 4.1%
Teekay Corp. (NYSE:TK)’s share price fell 4.1% during trading on Tuesday . The stock traded as low as $6.27 and last traded at $6.31, with a volume of 787,192 shares changing hands. The stock had previously closed at $6.58.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Teekay Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Wells Fargo & Co. reiterated a “hold” rating on shares of Teekay Corp. in a report on Thursday, July 7th. TheStreet cut shares of Teekay Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Credit Suisse Group AG reiterated a “hold” rating and issued a $6.00 price objective on shares of Teekay Corp. in a report on Wednesday, May 25th. Finally, Jefferies Group set a $7.00 price objective on shares of Teekay Corp. and gave the stock a “hold” rating in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.25.
The company’s market capitalization is $471.22 million. The company’s 50-day moving average price is $6.76 and its 200 day moving average price is $8.24.
Teekay Corp. (NYSE:TK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company had revenue of $587.60 million for the quarter, compared to analyst estimates of $558.42 million. The company’s revenue was down .9% on a year-over-year basis. On average, equities research analysts forecast that Teekay Corp. will post ($0.04) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Investors of record on Friday, July 29th will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.49%.
Several large investors recently modified their holdings of TK. Trexquant Investment LP bought a new stake in shares of Teekay Corp. during the fourth quarter worth approximately $1,139,000. Russell Frank Co increased its position in Teekay Corp. by 8.3% in the fourth quarter. Russell Frank Co now owns 210,073 shares of the company’s stock worth $1,986,000 after buying an additional 16,027 shares during the period. California Public Employees Retirement System increased its position in Teekay Corp. by 79.8% in the fourth quarter. California Public Employees Retirement System now owns 222,600 shares of the company’s stock worth $2,197,000 after buying an additional 98,800 shares during the period. Finally, Morgan Stanley increased its position in Teekay Corp. by 692.4% in the fourth quarter. Morgan Stanley now owns 1,472,248 shares of the company’s stock worth $14,531,000 after buying an additional 1,286,450 shares during the 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.