Teekay Corp. (TK) Trading Down 3.8%
Teekay Corp. (NYSE:TK) was down 3.8% during mid-day trading on Friday . The company traded as low as $6.57 and last traded at $6.65, with a volume of 967,292 shares. The stock had previously closed at $6.91.
A number of equities research analysts have issued reports on TK shares. Zacks Investment Research upgraded Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Wednesday, June 29th. Morgan Stanley increased their price target on Teekay Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 31st. Credit Suisse Group AG set a $6.00 price target on Teekay Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. Jefferies Group set a $7.00 price target on Teekay Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Teekay Corp. in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.25.
The firm’s 50-day moving average price is $6.70 and its 200 day moving average price is $8.26. The stock’s market capitalization is $484.35 million.
Teekay Corp. (NYSE:TK) last posted its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business had revenue of $587.60 million for the quarter, compared to analyst estimates of $558.42 million. The company’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts forecast that Teekay Corp. will post ($0.22) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Investors 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 dividend on an annualized basis and a yield of 3.31%.
A hedge fund recently bought a new stake in Teekay Corp. stock. Trexquant Investment LP bought a new position in shares of Teekay Corp. (NYSE:TK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 115,439 shares of the company’s stock, valued at approximately $1,139,000. Trexquant Investment LP owned about 0.16% of Teekay Corp. 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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