Teekay (TK) Stock Price Down 5.7%

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

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Teekay from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th. ValuEngine upgraded shares of Teekay from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Finally, Bank of America assumed coverage on shares of Teekay in a research report on Monday, October 22nd. They set a “buy” rating and a $8.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Teekay has an average rating of “Hold” and an average price target of $7.50.

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.58. The stock has a market cap of $399.73 million, a price-to-earnings ratio of -2.64 and a beta of 1.26.

Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, November 15th. The shipping company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.22). Teekay had a negative net margin of 4.84% and a negative return on equity of 2.07%. The firm had revenue of $325.66 million for the quarter, compared to analysts’ expectations of $311.22 million. On average, sell-side analysts forecast that Teekay Co. will post -0.52 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of TK. Virtu Financial LLC lifted its stake in Teekay by 60.8% during the third quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock valued at $142,000 after buying an additional 7,962 shares in the last quarter. BlueMountain Capital Management LLC lifted its position 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 purchasing an additional 10,135 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Teekay in the second quarter worth approximately $207,000. Paloma Partners Management Co purchased a new stake in shares of Teekay in the second quarter worth approximately $265,000. Finally, Marshall Wace LLP purchased a new stake in shares of Teekay in the third quarter worth approximately $283,000. 23.60% of the stock is owned by institutional investors.

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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.

Further Reading: Quiet Period

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