Teekay Corporation (NYSE:TK) Getting Somewhat Positive Press Coverage, Study Finds
News coverage about Teekay Corporation (NYSE:TK) has trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Teekay Corporation earned a news impact score of 0.04 on Accern’s scale. Accern also assigned media coverage about the shipping company an impact score of 46.4386609391381 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Teekay Corporation (TK) Rating Increased to Buy at BidaskClub (ismboard.com)
- The Teekay Corporation (TK) Debt Trading 1.3% Higher (vothemes.com)
- Teekay Corporation (NYSE:TK) Debt Trading 1.5% Higher (naijaoversabi.com)
- Teekay Corp’s (TK) CEO Kenneth Hvid on Q2 2017 Results – Earnings Call Transcript (seekingalpha.com)
- Teekay Corporation (NYSE:TK) Downgraded to Sell at BidaskClub (wisdomsave.com)
Several analysts have issued reports on TK shares. Morgan Stanley downgraded Teekay Corporation from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $3.00 in a research note on Friday, June 9th. BidaskClub downgraded Teekay Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a research note on Friday, June 16th. ValuEngine raised Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 target price on shares of Teekay Corporation in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $5.33.
Teekay Corporation (NYSE:TK) traded up 1.061% during mid-day trading on Monday, hitting $10.005. The company had a trading volume of 2,040,853 shares. The company’s 50 day moving average price is $7.13 and its 200-day moving average price is $8.41. Teekay Corporation has a 12-month low of $5.14 and a 12-month high of $11.77. The firm’s market capitalization is $863.02 million.
Teekay Corporation (NYSE:TK) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.80%. The business had revenue of $513.90 million during the quarter, compared to the consensus estimate of $503.65 million. During the same period in the previous year, the business posted $0.01 EPS. Teekay Corporation’s revenue was down 12.5% compared to the same quarter last year. On average, analysts forecast that Teekay Corporation will post ($1.36) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, August 4th will be given a $0.055 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.22 annualized dividend and a yield of 2.22%. Teekay Corporation’s payout ratio is -15.38%.
About Teekay Corporation
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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