Teekay Corporation (TK) Receives Average Recommendation of “Hold” from Analysts
Teekay Corporation (NYSE:TK) has been given an average rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.33.
A number of research firms have weighed in on TK. BidaskClub raised shares of Teekay Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine lowered shares of Teekay Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a report on Friday, June 16th.
Large investors have recently bought and sold shares of the company. Wellington Shields & Co. LLC bought a new stake in shares of Teekay Corporation in the 2nd quarter valued at $1,434,000. Engineers Gate Manager LP bought a new stake in shares of Teekay Corporation in the 2nd quarter valued at $865,000. Cedar Capital LLC boosted its stake in shares of Teekay Corporation by 40.0% in the 2nd quarter. Cedar Capital LLC now owns 451,609 shares of the shipping company’s stock valued at $3,012,000 after purchasing an additional 128,993 shares during the last quarter. American International Group Inc. boosted its stake in shares of Teekay Corporation by 17.2% in the 1st quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock valued at $271,000 after purchasing an additional 4,359 shares during the last quarter. Finally, Malaga Cove Capital LLC bought a new stake in shares of Teekay Corporation in the 2nd quarter valued at $310,000. 31.52% of the stock is currently owned by institutional investors.
Teekay Corporation (NYSE TK) traded up 0.45% during mid-day trading on Wednesday, hitting $8.90. The firm has a 50 day moving average of $9.04 and a 200 day moving average of $8.16. Teekay Corporation has a 52 week low of $5.14 and a 52 week high of $11.77. The company’s market capitalization is $767.71 million.
Teekay Corporation (NYSE:TK) last posted its earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.07). Teekay Corporation had a negative return on equity of 2.82% and a negative net margin of 5.66%. The business had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year. Equities analysts anticipate that Teekay Corporation will post ($1.26) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Corporation’s dividend payout ratio is currently -15.38%.
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Teekay Corporation Company Profile
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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