Teekay Corp. (NYSE:TK) Given Average Recommendation of “Hold” by Brokerages
Shares of Teekay Corp. (NYSE:TK) have been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.33.
TK has been the subject of several research analyst reports. Zacks Investment Research raised Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, June 29th. Credit Suisse Group AG set a $6.00 price objective on Teekay Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Jefferies Group set a $7.00 price objective on Teekay Corp. and gave the company a “hold” rating in a research note on Wednesday, July 27th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Teekay Corp. in a research note on Thursday, July 7th. Finally, TheStreet cut Teekay Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 4th.
Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Teekay Corp. by 614.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,023,977 shares of the company’s stock valued at $8,868,000 after buying an additional 880,735 shares during the period. Oxford Asset Management acquired a new stake in Teekay Corp. during the second quarter valued at about $4,903,000. A.R.T. Advisors LLC boosted its stake in Teekay Corp. by 1,054.5% in the first quarter. A.R.T. Advisors LLC now owns 752,052 shares of the company’s stock valued at $6,512,000 after buying an additional 686,910 shares during the period. BlackRock Fund Advisors boosted its stake in Teekay Corp. by 152.8% in the second quarter. BlackRock Fund Advisors now owns 1,068,615 shares of the company’s stock valued at $7,619,000 after buying an additional 645,907 shares during the period. Finally, Eagle Global Advisors LLC boosted its stake in Teekay Corp. by 1,951.6% in the second quarter. Eagle Global Advisors LLC now owns 628,110 shares of the company’s stock valued at $4,478,000 after buying an additional 597,495 shares during the period. Institutional investors and hedge funds own 47.71% of the company’s stock.
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Teekay Corp. (NYSE:TK) traded up 3.66% during midday trading on Monday, hitting $8.77. The company had a trading volume of 399,177 shares. The firm’s market cap is $743.98 million. Teekay Corp. has a 52-week low of $4.37 and a 52-week high of $35.38. The stock has a 50 day moving average of $7.41 and a 200 day moving average of $8.20.
Teekay Corp. (NYSE:TK) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. Teekay Corp. had a positive return on equity of 0.74% and a negative net margin of 3.96%. The firm earned $587.60 million during the quarter, compared to the consensus estimate of $558.42 million. During the same period last year, the business posted $0.27 EPS. Teekay Corp.’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Teekay Corp. will post ($0.38) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 16th. Stockholders of record on Friday, October 28th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, October 26th. Teekay Corp.’s dividend payout ratio (DPR) is -15.07%.
About Teekay Corp.
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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