Teekay (NYSE:TK) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

A number of other research firms have also weighed in on TK. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Jefferies Group reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Teekay in a research note on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Teekay presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Teekay (NYSE TK) traded down $0.01 during midday trading on Friday, hitting $8.32. The stock had a trading volume of 520,180 shares, compared to its average volume of 1,419,180. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.70 and a quick ratio of 0.70. Teekay has a 1 year low of $5.14 and a 1 year high of $11.77.

Teekay (NYSE:TK) last released its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $500.80 million during the quarter, compared to analyst estimates of $475.32 million. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.23) earnings per share. equities research analysts predict that Teekay will post -1.16 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Teekay by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 299,070 shares of the shipping company’s stock valued at $1,994,000 after buying an additional 42,147 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Teekay by 404.5% during the second quarter. Goldman Sachs Group Inc. now owns 566,352 shares of the shipping company’s stock valued at $3,778,000 after buying an additional 454,087 shares during the last quarter. Wellington Shields Capital Management LLC boosted its stake in Teekay by 14.7% during the third quarter. Wellington Shields Capital Management LLC now owns 226,000 shares of the shipping company’s stock valued at $2,018,000 after buying an additional 29,000 shares during the last quarter. Engineers Gate Manager LP bought a new position in Teekay during the second quarter valued at approximately $865,000. Finally, Wells Fargo & Company MN boosted its stake in Teekay by 65.6% during the second quarter. Wells Fargo & Company MN now owns 71,609 shares of the shipping company’s stock valued at $477,000 after buying an additional 28,365 shares during the last quarter. 27.94% of the stock is owned by institutional investors.

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Teekay Company Profile

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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