Teekay (TK) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Teekay (NYSE:TK) from a strong sell rating to a sell rating in a report released on Friday, January 5th.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Teekay from a hold rating to a buy rating and set a $10.00 price target for the company in a research report on Wednesday, October 4th. Jefferies Group reaffirmed a hold rating and set a $8.00 price objective on shares of Teekay in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $7.00.

Teekay (TK) traded up $0.12 during mid-day trading on Friday, reaching $10.54. 517,400 shares of the company’s stock were exchanged, compared to its average volume of 1,045,333. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $909.21, a price-to-earnings ratio of -6.39 and a beta of 1.67. Teekay has a 52 week low of $5.14 and a 52 week high of $11.77.

Teekay (NYSE:TK) last posted its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $500.80 million during the quarter, compared to analyst estimates of $475.32 million. Teekay had a negative net margin of 6.66% and a negative return on equity of 3.48%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) earnings per share. analysts forecast that Teekay will post -1.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, February 1st. Teekay’s payout ratio is presently -13.33%.

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC grew its stake in shares of Teekay by 25.8% in the second quarter. Voya Investment Management LLC now owns 22,518 shares of the shipping company’s stock worth $150,000 after acquiring an additional 4,617 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Teekay in the third quarter worth $212,000. Fondren Management LP acquired a new stake in shares of Teekay in the second quarter worth $267,000. Fox Run Management L.L.C. acquired a new stake in shares of Teekay in the third quarter worth $296,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Teekay in the second quarter worth $306,000. Institutional investors own 27.73% of the company’s stock.

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Teekay 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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