Teekay’s “Overweight” Rating Reaffirmed at Barclays (TK)
Teekay (NYSE:TK)‘s stock had its “overweight” rating restated by research analysts at Barclays in a report released on Tuesday. They currently have a $70.00 price target on the stock, up from their previous price target of $65.00. Barclays’ price target would indicate a potential upside of 25.56% from the company’s current price.
Shares of Teekay (NYSE:TK) traded down 1.43% during mid-day trading on Tuesday, hitting $54.95. The stock had a trading volume of 228,456 shares. Teekay has a 52-week low of $37.20 and a 52-week high of $62.77. The stock has a 50-day moving average of $59.2 and a 200-day moving average of $57.09. The company’s market cap is $3.955 billion.
Teekay (NYSE:TK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $450.20 million. On average, analysts predict that Teekay will post $0.52 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TK. Analysts at Jefferies Group raised their price target on shares of Teekay from $59.00 to $64.00 in a research note on Monday, July 28th. They now have a “hold” rating on the stock. Analysts at Deutsche Bank raised their price target on shares of Teekay from $56.00 to $61.00 in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $61.97.
Teekay Corporation (NYSE:TK) is a provider of international crude oil and gas marine transportation services and it also offer offshore oil production, storage and offloading services, under long-term, fixed-rate contracts.
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