Teekay Corp. (TK) Shares Down 6%
Teekay Corp. (NYSE:TK) traded down 6% during trading on Friday . The company traded as low as $7.63 and last traded at $7.63, with a volume of 1,062,418 shares traded. The stock had previously closed at $8.12.
A number of equities research analysts have recently commented on the company. TheStreet lowered Teekay Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Credit Suisse Group AG set a $6.00 price target on Teekay Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. Zacks Investment Research lowered Teekay Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Jefferies Group set a $7.00 price target on Teekay Corp. and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Teekay Corp. in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Teekay Corp. has a consensus rating of “Hold” and an average price target of $14.25.
The stock’s market cap is $650.66 million. The stock’s 50 day moving average price is $6.78 and its 200 day moving average price is $8.32.
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Teekay Corp. (NYSE:TK) last issued its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Teekay Corp. had a positive return on equity of 0.74% and a negative net margin of 3.96%. The business earned $587.60 million during the quarter, compared to analysts’ expectations of $558.42 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts expect that Teekay Corp. will post $0.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Friday, July 29th were given a $0.055 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.87%. Teekay Corp.’s dividend payout ratio (DPR) is presently -15.07%.
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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