Teekay Co. (TK) Receives Average Rating of “Hold” from Brokerages

Teekay Co. (NYSE:TK) has been given an average recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.50.

Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Teekay from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th. Jefferies Group reissued a “hold” rating and set a $8.00 price target on shares of Teekay in a report on Thursday, October 12th. Finally, ValuEngine raised shares of Teekay from a “strong sell” rating to a “sell” rating in a report on Friday, January 5th.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Teekay by 1.6% during the 2nd quarter. FMR LLC now owns 8,606,199 shares of the shipping company’s stock valued at $57,403,000 after purchasing an additional 131,584 shares during the last quarter. State Street Corp lifted its holdings in Teekay by 3.8% during the 2nd quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock valued at $7,910,000 after purchasing an additional 43,160 shares during the last quarter. Northern Trust Corp lifted its holdings in Teekay by 9.0% during the 2nd quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock valued at $7,151,000 after purchasing an additional 88,261 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Teekay by 12.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock valued at $4,980,000 after purchasing an additional 82,667 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Teekay by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock valued at $4,122,000 after purchasing an additional 3,433 shares during the last quarter. 27.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Teekay (NYSE:TK) traded up $0.05 during trading on Friday, hitting $10.48. 395,739 shares of the stock traded hands, compared to its average volume of 895,962. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.70 and a current ratio of 0.70. Teekay has a 1-year low of $5.14 and a 1-year high of $11.77. The firm has a market cap of $904.04, a price-to-earnings ratio of -6.43 and a beta of 1.69.

Teekay (NYSE:TK) last issued its earnings results on Thursday, November 9th. The shipping company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. Teekay had a negative net margin of 6.66% and a negative return on equity of 3.48%. The business had revenue of $500.80 million for the quarter, compared to analyst estimates of $475.32 million. During the same period in the previous year, the business earned ($0.23) EPS. The firm’s revenue was down 8.5% on a year-over-year basis. sell-side analysts predict that Teekay will post -1.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, February 1st. Teekay’s dividend payout ratio is currently -13.50%.

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Teekay 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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