Is Buying Teekay Corporation (NYSE:TK) Here Good Idea?

Paterniano Del Favero
Agosto 9, 2017

An issue of Teekay Corporation (NYSE:TK) bonds rose 8.6% against their face value during trading on Thursday. Two Sigma Investments LP now owns 270,823 shares of the shipping company's stock worth $2,175,000 after buying an additional 203,579 shares in the last quarter. Alliancebernstein L.P.'s holdings in Teekay Corporation were worth $656,000 at the end of the most recent reporting period.

Several other analysts have also recently weighed in on the company. FMR LLC raised its stake in shares of Teekay Corporation by 39.4% in the fourth quarter. Trexquant Investment LP raised its stake in shares of Teekay Corporation by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company's stock valued at $2,351,000 after buying an additional 7,475 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in Teekay Corporation during the first quarter valued at $229,000. Geneva Advisors LLC now owns 11,057 shares of the shipping company's stock worth $101,000 after buying an additional 1,057 shares during the period.

Shares of Teekay Corporation (NYSE TK) opened at 9.80 on Wednesday. The company's stock had a trading volume of 1,305,050 shares. The stock touched 52-week High of $11.77 on 01/26/17 and 52-week Low of $5.14 on 06/21/17. The firm's 50-day moving average price is $7.49 and its 200-day moving average price is $8.44. The firm's market capitalization is $841.46 million. Teekay Corporation also recently announced a dividend that will be paid on Wednesday the 16th of August 2017. The shipping company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative net margin of 5.36% and a negative return on equity of 1.86%. For the current year the company's revenue estimates are $1.99 Billion compared to low analyst estimates of $1.95 Billion and high estimates of $2.02 Billion according to 3 number of analysts. The business's revenue for the quarter was down 15.2% compared to the same quarter previous year. Equities analysts predict that Teekay Corporation will post ($1.36) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, August 4th will be issued a $0.055 dividend.

It has a dividend yield of 2.23%. The ex-dividend date has been established as Wednesday the 2nd of August 2017. Teekay Corporation's dividend payout ratio (DPR) is presently -15.38%.

ILLEGAL ACTIVITY WARNING: This story was originally published by BNB Daily and is owned by of BNB Daily. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & global trademark & copyright legislation. The original version of this piece can be accessed at https://transcriptdaily.com/2017/08/09/legal-general-group-plc-reduces-stake-in-teekay-corporation-nysetk-updated.html. Jefferies Group LLC reiterated a "hold" rating and issued a $8.50 price target on shares of Teekay Corporation in a report on Tuesday, May 2nd.

Sell-side analysts that regularly cover the stock have offered price targets and recommendations on Teekay Corporation (NYSE:TK). Royal Bank Of Canada reaffirmed a "hold" rating on shares of Teekay Corporation in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Teekay Corporation from a "sell" rating to a "hold" rating in a report on Thursday, July 20th. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal.

5 year sales growth rate is an important factor for valuation analysis, the 5 year sales growth of Teekay Corporation (TK) stands at 3.34 while the industry's and the sector's growth for next 5 years ticked at 3.44 and -10.45 respectively.

Teekay Corporation (Teekay), launched on February 9, 1979, is a provider of crude oil and gas marine transportation services.

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