Teekay Co. (NYSE:TK) has received an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.00.
TK has been the subject of several recent analyst reports. ValuEngine lowered Teekay from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Jefferies Group initiated coverage on Teekay in a report on Monday, December 18th. They set a “hold” rating and a $8.00 price objective for the company. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Morgan Stanley boosted their price objective on Teekay from $3.00 to $6.00 and gave the stock an “underweight” rating in a report on Monday, February 12th.
Shares of Teekay (NYSE:TK) opened at $8.67 on Friday. Teekay has a 52-week low of $5.14 and a 52-week high of $10.90. The firm has a market capitalization of $754.54, a PE ratio of -4.90 and a beta of 1.42. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.28.
Teekay (NYSE:TK) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.06). Teekay had a negative net margin of 8.05% and a negative return on equity of 3.36%. The company had revenue of $326.70 million for the quarter, compared to the consensus estimate of $508.35 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. The company’s quarterly revenue was down 40.8% on a year-over-year basis. sell-side analysts predict that Teekay will post 0.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, February 1st. Teekay’s payout ratio is -12.43%.
Several hedge funds and other institutional investors have recently modified their holdings of TK. Wells Fargo & Company MN grew its holdings in shares of Teekay by 65.6% during the second quarter. Wells Fargo & Company MN now owns 71,609 shares of the shipping company’s stock worth $477,000 after purchasing an additional 28,365 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Teekay by 8.7% in the second quarter. TIAA CREF Investment Management LLC now owns 154,365 shares of the shipping company’s stock worth $1,030,000 after buying an additional 12,344 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Teekay by 34.1% in the second quarter. New York State Common Retirement Fund now owns 55,000 shares of the shipping company’s stock worth $367,000 after buying an additional 13,999 shares in the last quarter. Northern Trust Corp boosted its stake in Teekay by 9.0% in the second quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after buying an additional 88,261 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Teekay by 5.2% in the second quarter. Vanguard Group Inc. now owns 320,139 shares of the shipping company’s stock worth $2,136,000 after buying an additional 15,740 shares in the last quarter. 27.11% of the stock is owned by institutional investors.
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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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