Teekay Lifted to Strong-Buy at Raymond James (TK)
Teekay (NYSE:TK) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Shares of Teekay (NYSE:TK) opened at 57.76 on Tuesday. Teekay has a 52-week low of $37.20 and a 52-week high of $62.77. The stock’s 50-day moving average is $57.83 and its 200-day moving average is $57.16. The company’s market cap is $4.161 billion.
Teekay (NYSE:TK) last announced its earnings results on Thursday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.22) by $0.09. The company had revenue of $452.25 million for the quarter, compared to the consensus estimate of $440.50 million. During the same quarter last year, the company posted ($0.47) earnings per share. Teekay’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Teekay will post $0.22 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Teekay to a “hold” rating in a research note on Monday, August 11th. Separately, analysts at RBC Capital raised their price target on shares of Teekay from $72.00 to $80.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Teekay in a research note on Tuesday, August 5th. They now have a $70.00 price target on the stock, up previously from $65.00. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $67.20.
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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