Teekay Co. (TK) Given Average Recommendation of “Hold” by Brokerages

Teekay Co. (NYSE:TK) has received a consensus rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.50.

A number of equities research analysts recently weighed in on TK shares. ValuEngine downgraded shares of Teekay from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Teekay from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, Jefferies Group started coverage on shares of Teekay in a research note on Monday, December 18th. They set a “hold” rating and a $8.00 price target for the company.

Shares of Teekay (NYSE:TK) traded up $0.05 during midday trading on Friday, hitting $10.48. 395,739 shares of the company’s stock were exchanged, compared to its average volume of 895,962. Teekay has a one year low of $5.14 and a one year high of $11.77. The company has a market capitalization of $904.04, a P/E ratio of -6.43 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.70 and a current ratio of 0.70.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, February 1st. Teekay’s dividend payout ratio (DPR) is -13.50%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Teekay by 1.6% during the second quarter. FMR LLC now owns 8,606,199 shares of the shipping company’s stock worth $57,403,000 after buying an additional 131,584 shares during the last quarter. State Street Corp raised its stake in shares of Teekay by 3.8% during the second quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock worth $7,910,000 after buying an additional 43,160 shares during the last quarter. Northern Trust Corp raised its stake in shares of Teekay by 9.0% during the second quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after buying an additional 88,261 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Teekay by 12.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock worth $4,980,000 after buying an additional 82,667 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Teekay by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock worth $4,122,000 after buying an additional 3,433 shares during the last quarter. 27.73% of the stock is owned by institutional investors and hedge funds.

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About Teekay

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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