Teekay (TK) Stock Price Down 5.7%

Teekay Co. (NYSE:TK)’s share price dropped 5.7% on Friday . The stock traded as low as $3.60 and last traded at $3.64. Approximately 731,496 shares changed hands during trading, a decline of 10% from the average daily volume of 815,087 shares. The stock had previously closed at $3.86.

TK has been the topic of several recent research reports. Bank of America initiated coverage on shares of Teekay in a research report on Monday, October 22nd. They set a “buy” rating and a $8.00 price objective on the stock. ValuEngine upgraded Teekay from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research downgraded Teekay from a “hold” rating to a “sell” rating in a report on Tuesday, January 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Teekay presently has a consensus rating of “Hold” and an average price target of $7.50.

The company has a debt-to-equity ratio of 1.58, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $399.73 million, a P/E ratio of -2.64 and a beta of 1.26.



Teekay (NYSE:TK) last announced its quarterly earnings results on Thursday, November 15th. The shipping company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.22). The company had revenue of $325.66 million for the quarter, compared to analyst estimates of $311.22 million. Teekay had a negative net margin of 4.84% and a negative return on equity of 2.07%. On average, equities research analysts expect that Teekay Co. will post -0.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Friday, February 1st will be paid a $0.055 dividend. The ex-dividend date is Thursday, January 31st. This represents a $0.22 annualized dividend and a dividend yield of 6.04%. Teekay’s payout ratio is -15.94%.

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC grew its stake in shares of Teekay by 60.8% in the third quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock worth $142,000 after acquiring an additional 7,962 shares during the last quarter. BlueMountain Capital Management LLC grew its stake in shares of Teekay by 120.1% in the second quarter. BlueMountain Capital Management LLC now owns 18,577 shares of the shipping company’s stock worth $144,000 after acquiring an additional 10,135 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Teekay in the second quarter worth $207,000. Paloma Partners Management Co acquired a new stake in shares of Teekay in the second quarter worth $265,000. Finally, Marshall Wace LLP acquired a new stake in shares of Teekay in the third quarter worth $283,000. Institutional investors and hedge funds own 23.60% of the company’s stock.

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About Teekay (NYSE:TK)

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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