Teekay Corp. (TK) Shares Down 3.8%
Teekay Corp. (NYSE:TK)’s share price was down 3.8% on Friday . The stock traded as low as $6.57 and last traded at $6.65, with a volume of 967,292 shares changing hands. The stock had previously closed at $6.91.
Several equities analysts have recently weighed in on TK shares. Credit Suisse Group AG reissued a “hold” rating and set a $6.00 target price on shares of Teekay Corp. in a research report on Wednesday, May 25th. Morgan Stanley upped their price objective on Teekay Corp. from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 31st. Zacks Investment Research downgraded Teekay Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Jefferies Group reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Teekay Corp. in a research report on Wednesday, July 6th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Teekay Corp. in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.25.
The stock’s market capitalization is $484.35 million. The firm has a 50 day moving average of $6.70 and a 200 day moving average of $8.26.
Teekay Corp. (NYSE:TK) last released its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm earned $587.60 million during the quarter, compared to analysts’ expectations of $558.42 million. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. On average, equities analysts predict that Teekay Corp. will post ($0.22) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Friday, July 29th were given a $0.055 dividend. The ex-dividend date was Wednesday, July 27th. This represents a $0.22 annualized dividend and a dividend yield of 3.31%.
A hedge fund recently raised its stake in Teekay Corp. stock. Morgan Stanley increased its position in Teekay Corp. (NYSE:TK) by 692.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,472,248 shares of the company’s stock after buying an additional 1,286,450 shares during the period. Morgan Stanley owned 2.02% of Teekay Corp. worth $14,531,000 as of its most recent SEC filing.
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.