Teekay Corp. (NYSE:TK) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 7,466,698 shares, a growth of 54.1% from the September 15th total of 4,844,851 shares. Based on an average trading volume of 1,521,970 shares, the short-interest ratio is currently 4.9 days. Currently, 14.1% of the shares of the company are sold short.
Teekay Corp. (NYSE:TK) opened at 7.79 on Tuesday. The company has a 50 day moving average price of $7.64 and a 200 day moving average price of $8.18. Teekay Corp. has a 52 week low of $4.37 and a 52 week high of $34.81. The stock’s market cap is $660.84 million.
Teekay Corp. (NYSE:TK) last issued its earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The firm earned $587.60 million during the quarter, compared to the consensus estimate of $558.42 million. Teekay Corp. had a negative net margin of 3.96% and a positive return on equity of 0.74%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Analysts expect that Teekay Corp. will post ($0.38) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 16th. Shareholders of record on Friday, October 28th will be paid a $0.055 dividend. The ex-dividend date is Wednesday, October 26th. This represents a $0.22 annualized dividend and a yield of 2.82%. Teekay Corp.’s dividend payout ratio is presently -15.07%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Wednesday, June 29th. Credit Suisse Group AG set a $6.00 price objective on Teekay Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Jefferies Group reiterated a “hold” rating and set a $9.00 price objective on shares of Teekay Corp. in a research note on Wednesday, July 6th. TheStreet lowered Teekay Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Teekay Corp. in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.25.
Institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new position in Teekay Corp. during the second quarter valued at about $111,000. Commonwealth Equity Services Inc bought a new position in Teekay Corp. during the second quarter valued at about $116,000. Bank of Montreal Can bought a new position in Teekay Corp. during the second quarter valued at about $117,000. Stevens Capital Management LP bought a new position in Teekay Corp. during the second quarter valued at about $119,000. Finally, Advisors Asset Management Inc. bought a new position in Teekay Corp. during the second quarter valued at about $120,000. Institutional investors own 47.72% of the company’s stock.
About Teekay Corp.
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.
Receive News & Ratings for Teekay Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Corp. and related companies with MarketBeat.com's FREE daily email newsletter.