Brokerages Set Teekay Corporation (TK) PT at $5.33
Teekay Corporation (NYSE:TK) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $5.67.
Several equities research analysts recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $8.00 price target on shares of Teekay Corporation in a research note on Thursday. Zacks Investment Research cut Teekay Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. ValuEngine cut Teekay Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub raised Teekay Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a research note on Friday, June 16th.
Shares of Teekay Corporation (NYSE TK) opened at 8.98 on Wednesday. Teekay Corporation has a 52-week low of $5.14 and a 52-week high of $11.77. The firm’s market capitalization is $774.61 million. The company has a 50 day moving average of $9.03 and a 200 day moving average of $8.16.
Teekay Corporation (NYSE:TK) last released its 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 2.82%. The business had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $503.65 million. During the same period last year, the firm earned $0.01 EPS. The company’s revenue was down 12.5% compared to the same quarter last year. On average, analysts anticipate that Teekay Corporation will post ($1.26) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd will be given a dividend of $0.055 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.45%. Teekay Corporation’s payout ratio is currently -15.38%.
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Hedge funds have recently modified their holdings of the company. Wellington Shields & Co. LLC acquired a new position in shares of Teekay Corporation during the second quarter worth approximately $1,434,000. Engineers Gate Manager LP acquired a new position in shares of Teekay Corporation during the second quarter worth approximately $865,000. Cedar Capital LLC lifted its holdings in shares of Teekay Corporation by 40.0% during the second quarter. Cedar Capital LLC now owns 451,609 shares of the shipping company’s stock worth $3,012,000 after buying an additional 128,993 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Teekay Corporation by 17.2% during the first quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock worth $271,000 after buying an additional 4,359 shares during the last quarter. Finally, Malaga Cove Capital LLC acquired a new position in shares of Teekay Corporation during the second quarter worth approximately $310,000. Institutional investors own 31.52% of the company’s stock.
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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