Teekay Co. (TK) Given Hold Rating at Jefferies Group LLC
Teekay Co. (NYSE:TK)‘s stock had its “hold” rating reiterated by Jefferies Group LLC in a note issued to investors on Friday. They currently have a $7.00 price objective on the shipping company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 8.53% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on TK. Zacks Investment Research upgraded Teekay from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Royal Bank of Canada restated a “hold” rating on shares of Teekay in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Teekay presently has an average rating of “Hold” and an average target price of $7.19.
Shares of Teekay (NYSE:TK) opened at 6.46 on Friday. Teekay has a 52 week low of $5.45 and a 52 week high of $11.77. The stock’s 50 day moving average price is $8.44 and its 200-day moving average price is $8.72. The firm’s market capitalization is $556.20 million.
Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, May 18th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.24. Teekay had a positive return on equity of 0.13% and a negative net margin of 3.32%. The firm had revenue of $543.50 million during the quarter, compared to analysts’ expectations of $497.83 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Teekay’s revenue for the quarter was down 15.2% compared to the same quarter last year. Equities analysts predict that Teekay will post ($0.60) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Friday, May 5th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, May 3rd. Teekay’s dividend payout ratio is presently -18.03%.
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A number of large investors have recently modified their holdings of the stock. Geneva Advisors LLC boosted its stake in shares of Teekay by 10.6% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,057 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Teekay during the first quarter valued at $101,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Teekay during the first quarter valued at $111,000. Nine Chapters Capital Management LLC bought a new stake in shares of Teekay during the first quarter valued at $141,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Teekay during the second quarter valued at $111,000. Institutional investors own 51.41% of the company’s stock.
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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