Teekay Corp. (NYSE:TK) received a $6.00 price objective from investment analysts at Credit Suisse Group AG in a research report issued to clients and investors on Sunday. The firm presently has a “hold” rating on the stock. Credit Suisse Group AG’s target price indicates a potential downside of 20.32% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the stock. Jefferies Group set a $7.00 price target on shares of Teekay Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Zacks Investment Research lowered Teekay Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Finally, TheStreet lowered Teekay Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Teekay Corp. has a consensus rating of “Hold” and an average price target of $8.96.
Shares of Teekay Corp. (NYSE:TK) traded down 1.18% during trading on Friday, reaching $7.53. 859,353 shares of the company’s stock were exchanged. The firm’s market cap is $639.20 million. Teekay Corp. has a 12 month low of $4.37 and a 12 month high of $28.25. The stock has a 50-day moving average price of $7.35 and a 200 day moving average price of $7.61.
Teekay Corp. (NYSE:TK) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.05. The firm earned $547.60 million during the quarter, compared to the consensus estimate of $551.50 million. Teekay Corp. had a positive return on equity of 0.13% and a negative net margin of 3.32%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, analysts forecast that Teekay Corp. will post ($0.41) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Friday, October 28th were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, October 26th. Teekay Corp.’s dividend payout ratio (DPR) is -18.03%.
Institutional investors have recently modified their holdings of the company. TFS Capital LLC raised its position in shares of Teekay Corp. by 373.0% in the fourth quarter. TFS Capital LLC now owns 270,287 shares of the company’s stock worth $2,668,000 after buying an additional 213,140 shares during the period. Russell Frank Co raised its stake in Teekay Corp. by 8.3% in the fourth quarter. Russell Frank Co now owns 210,073 shares of the company’s stock valued at $1,986,000 after buying an additional 16,027 shares during the last quarter. Acadian Asset Management acquired a new stake in Teekay Corp. during the fourth quarter valued at approximately $988,000. Dynamic Capital Management Ltd raised its stake in Teekay Corp. by 266.8% in the fourth quarter. Dynamic Capital Management Ltd now owns 114,897 shares of the company’s stock valued at $1,134,000 after buying an additional 83,570 shares during the last quarter. Finally, Granite Point Capital Management L.P. acquired a new stake in Teekay Corp. during the fourth quarter valued at approximately $4,935,000. 53.55% of the stock is owned by institutional investors and hedge funds.
Teekay Corp. Company Profile