Teekay (NYSE:TK) had its price target lifted by Morgan Stanley from $6.00 to $6.50 in a research report report published on Wednesday. The firm currently has an underweight rating on the shipping company’s stock.
Several other equities research analysts have also commented on TK. Zacks Investment Research lowered Teekay from a hold rating to a sell rating in a research report on Thursday, February 15th. ValuEngine lowered Teekay from a sell rating to a strong sell rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $8.17.
Shares of Teekay opened at $7.76 on Wednesday, Marketbeat.com reports. Teekay has a one year low of $5.14 and a one year high of $10.90. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $807.49 million, a P/E ratio of -5.62 and a beta of 1.27.
Teekay (NYSE:TK) last announced its earnings results on Thursday, May 17th. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.11). Teekay had a negative net margin of 7.32% and a negative return on equity of 3.28%. The business had revenue of $394.02 million for the quarter, compared to the consensus estimate of $296.76 million. During the same quarter in the previous year, the company earned ($0.41) EPS. The firm’s revenue for the quarter was down 27.5% on a year-over-year basis. equities research analysts expect that Teekay will post 0.37 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in Teekay by 35.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,046,750 shares of the shipping company’s stock worth $9,756,000 after acquiring an additional 273,715 shares in the last quarter. BlackRock Inc. boosted its holdings in Teekay by 1.9% in the fourth quarter. BlackRock Inc. now owns 2,525,669 shares of the shipping company’s stock worth $23,539,000 after acquiring an additional 48,303 shares in the last quarter. Two Sigma Investments LP bought a new position in Teekay in the fourth quarter worth approximately $604,000. Orbis Allan Gray Ltd boosted its holdings in Teekay by 36.2% in the fourth quarter. Orbis Allan Gray Ltd now owns 838,577 shares of the shipping company’s stock worth $7,816,000 after acquiring an additional 222,725 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Teekay in the fourth quarter worth approximately $572,000. Institutional investors and hedge funds own 28.86% of the company’s stock.
Teekay Company Profile
Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.
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