According to Zacks, “Teekay Shipping Corporation is a leading provider of international crude oil and petroleum product transportation services through the world’s largest fleet of medium size oil tankers. The Company’s modern fleet provides such transportation services to major oil companies, major oil traders and government agencies, principally in the region spanning from the Red Sea to the U.S. West Coast. “
A number of other analysts have also weighed in on the stock. TheStreet lowered shares of Teekay Corp. from a hold rating to a sell rating in a report on Thursday, August 4th. Credit Suisse Group AG set a $6.00 target price on shares of Teekay Corp. and gave the stock a hold rating in a report on Friday, August 5th. Jefferies Group set a $7.00 target price on shares of Teekay Corp. and gave the stock a hold rating in a report on Wednesday, July 27th. Finally, Wells Fargo & Co. reaffirmed a hold rating on shares of Teekay Corp. in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $14.25.
Shares of Teekay Corp. (NYSE:TK) opened at 8.18 on Wednesday. The stock’s 50 day moving average price is $7.61 and its 200-day moving average price is $8.19. The firm’s market cap is $693.93 million. Teekay Corp. has a 12 month low of $4.37 and a 12 month high of $34.81.
Teekay Corp. (NYSE:TK) last posted its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Teekay Corp. had a negative net margin of 3.96% and a positive return on equity of 0.74%. The company earned $587.60 million during the quarter, compared to analysts’ expectations of $558.42 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. Teekay Corp.’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Teekay Corp. will post ($0.38) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 16th. Shareholders of record on Friday, October 28th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Wednesday, October 26th. This represents a $0.22 annualized dividend and a yield of 2.69%. Teekay Corp.’s dividend payout ratio (DPR) is presently -15.07%.
A number of large investors have recently modified their holdings of TK. Bank of Montreal Can acquired a new stake in shares of Teekay Corp. during the second quarter valued at approximately $117,000. Acadian Asset Management LLC raised its position in Teekay Corp. by 43.8% in the second quarter. Acadian Asset Management LLC now owns 46,714 shares of the company’s stock valued at $333,000 after buying an additional 14,220 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Teekay Corp. during the second quarter valued at $111,000. Nisa Investment Advisors LLC raised its position in Teekay Corp. by 120.0% in the second quarter. Nisa Investment Advisors LLC now owns 51,700 shares of the company’s stock valued at $369,000 after buying an additional 28,200 shares in the last quarter. Finally, Creative Planning raised its position in Teekay Corp. by 11,607.5% in the second quarter. Creative Planning now owns 23,415 shares of the company’s stock valued at $167,000 after buying an additional 23,215 shares in the last quarter. 47.72% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Corp. 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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