Teekay Corporation (NYSE:TK) – Jefferies Group cut their Q3 2017 EPS estimates for shares of Teekay Corporation in a research report issued on Thursday. Jefferies Group analyst D. Mavrinac now forecasts that the shipping company will post earnings of ($0.45) per share for the quarter, down from their previous estimate of ($0.40). Jefferies Group currently has a “Hold” rating and a $8.00 target price on the stock. Jefferies Group also issued estimates for Teekay Corporation’s FY2017 earnings at ($1.16) EPS.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Teekay Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. ValuEngine lowered Teekay Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded Teekay Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Teekay Corporation currently has a consensus rating of “Hold” and a consensus target price of $6.75.

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Shares of Teekay Corporation (NYSE TK) opened at 8.73 on Monday. Teekay Corporation has a one year low of $5.14 and a one year high of $11.77. The firm’s market cap is $753.04 million. The stock’s 50 day moving average price is $8.95 and its 200 day moving average price is $8.15.

Teekay Corporation (NYSE:TK) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $513.90 million for the quarter, compared to analyst estimates of $503.65 million. During the same period in the previous year, the business posted $0.01 EPS. Teekay Corporation’s revenue for the quarter was down 12.5% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.52%. Teekay Corporation’s dividend payout ratio (DPR) is presently -15.38%.

A number of institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in Teekay Corporation by 1.6% during the 2nd quarter. FMR LLC now owns 8,606,199 shares of the shipping company’s stock worth $57,403,000 after acquiring an additional 131,584 shares during the period. State Street Corp increased its stake in Teekay Corporation by 3.8% during the 2nd quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock worth $7,910,000 after acquiring an additional 43,160 shares during the period. Northern Trust Corp increased its stake in Teekay Corporation by 9.0% during the 2nd quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after acquiring an additional 88,261 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Teekay Corporation by 12.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock worth $4,980,000 after acquiring an additional 82,667 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Teekay Corporation by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock worth $4,122,000 after acquiring an additional 3,433 shares during the period. Hedge funds and other institutional investors own 31.51% of the company’s stock.

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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