Teekay Corp. (TK) Receives $9.20 Consensus Price Target from Analysts
Teekay Corp. (NYSE:TK) has received an average rating of “Hold” from the ten analysts that are presently covering the company. Two research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.20.
A number of equities analysts have recently commented on the stock. Credit Suisse Group AG set a $6.00 target price on shares of Teekay Corp. and gave the company a “hold” rating in a report on Sunday, November 6th. TheStreet lowered shares of Teekay Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Zacks Investment Research lowered shares of Teekay Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Finally, Jefferies Group set a $7.00 price objective on shares of Teekay Corp. and gave the company a “hold” rating in a research report on Wednesday, July 27th.
Teekay Corp. (NYSE:TK) opened at 6.90 on Tuesday. The firm’s 50-day moving average is $7.47 and its 200-day moving average is $7.72. The firm’s market capitalization is $585.72 million. Teekay Corp. has a 52-week low of $4.37 and a 52-week high of $28.45.
Teekay Corp. (NYSE:TK) last announced its earnings results on Thursday, November 3rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.05. The business earned $547.60 million during the quarter, compared to analyst estimates of $551.50 million. Teekay Corp. had a negative net margin of 3.32% and a positive return on equity of 0.13%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. On average, analysts anticipate that Teekay Corp. will post ($0.35) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Friday, October 28th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, October 26th. This represents a $0.22 annualized dividend and a dividend yield of 3.19%. Teekay Corp.’s payout ratio is currently -18.03%.
Large investors have recently modified their holdings of the company. Societe Generale bought a new stake in shares of Teekay Corp. during the second quarter valued at approximately $1,082,000. Quantitative Investment Management LLC raised its stake in shares of Teekay Corp. by 127.7% in the second quarter. Quantitative Investment Management LLC now owns 68,300 shares of the company’s stock valued at $486,000 after buying an additional 38,300 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Teekay Corp. during the second quarter valued at approximately $126,000. Bank of New York Mellon Corp raised its stake in shares of Teekay Corp. by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 191,558 shares of the company’s stock valued at $1,366,000 after buying an additional 6,883 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Teekay Corp. during the second quarter valued at approximately $117,000. Institutional investors own 48.22% of the company’s stock.
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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