Teekay Corporation (TK) Receives $5.50 Consensus PT from Analysts
Shares of Teekay Corporation (NYSE:TK) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.50.
A number of research firms have recently weighed in on TK. ValuEngine downgraded Teekay from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $8.00 price objective on shares of Teekay in a research note on Thursday, October 12th.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of 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 worth $1,994,000 after purchasing an additional 42,147 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Teekay by 404.5% during the second quarter. Goldman Sachs Group Inc. now owns 566,352 shares of the shipping company’s stock worth $3,778,000 after purchasing an additional 454,087 shares during the period. Wellington Shields Capital Management LLC grew its stake in shares of Teekay by 14.7% during the third quarter. Wellington Shields Capital Management LLC now owns 226,000 shares of the shipping company’s stock worth $2,018,000 after purchasing an additional 29,000 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Teekay during the second quarter worth $865,000. Finally, Wells Fargo & Company MN grew its stake in Teekay by 65.6% in the second quarter. Wells Fargo & Company MN now owns 71,609 shares of the shipping company’s stock valued at $477,000 after acquiring an additional 28,365 shares during the period. 27.94% of the stock is owned by institutional investors and hedge funds.
Teekay (TK) remained flat at $$8.32 during mid-day trading on Thursday. The company’s stock had a trading volume of 520,180 shares, compared to its average volume of 756,631. Teekay has a 12-month low of $5.14 and a 12-month high of $11.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.70 and a current ratio of 0.70.
Teekay (NYSE:TK) last released its earnings results 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 company had revenue of $500.80 million during the quarter, compared to the consensus estimate of $475.32 million. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) earnings per share. research analysts forecast that Teekay will post -1.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, November 3rd were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.64%. Teekay’s dividend payout ratio (DPR) is presently -13.50%.
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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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