Teekay (NYSE:TK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday.
Several other equities research analysts have also recently commented on TK. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. Morgan Stanley increased their price target on Teekay from $6.00 to $6.50 and gave the company an “underweight” rating in a report on Wednesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Teekay has an average rating of “Hold” and a consensus price target of $8.17.
NYSE TK opened at $7.94 on Monday. The company has a market capitalization of $778.37 million, a PE ratio of -5.75 and a beta of 1.31. Teekay has a 1-year low of $6.35 and a 1-year high of $10.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.30.
Teekay (NYSE:TK) last released its earnings results on Thursday, May 17th. The shipping company reported ($0.19) earnings per share 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 firm had revenue of $394.02 million during the quarter, compared to analysts’ expectations of $296.76 million. During the same quarter last year, the business earned ($0.41) EPS. The business’s revenue was down 27.5% compared to the same quarter last year. research analysts predict that Teekay will post -0.5 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Teekay by 35.4% during 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 during the last quarter. BlackRock Inc. increased its stake in Teekay by 1.9% during 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 during the last quarter. Two Sigma Investments LP acquired a new stake in Teekay during the fourth quarter worth $604,000. Orbis Allan Gray Ltd increased its stake in Teekay by 36.2% during 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 during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Teekay by 370.1% during the first quarter. Evergreen Capital Management LLC now owns 323,100 shares of the shipping company’s stock worth $2,614,000 after acquiring an additional 254,375 shares during the last quarter. 28.86% of the stock is owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Teekay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay and related companies with MarketBeat.com's FREE daily email newsletter.