Teekay (TK) Hits New 12-Month Low at $3.95

Teekay Co. (NYSE:TK) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.95 and last traded at $4.10, with a volume of 56103 shares trading hands. The stock had previously closed at $4.27.

TK has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $8.00 target price on shares of Teekay in a research report on Monday, August 20th. ValuEngine raised Teekay from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Bank of America initiated coverage on Teekay in a research note on Monday, October 22nd. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Zacks Investment Research downgraded Teekay from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has an average 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 company has a market cap of $414.79 million, a P/E ratio of -2.99 and a beta of 1.09.

Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, November 15th. The shipping company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $311.22 million. As a group, research analysts anticipate that Teekay Co. will post -0.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Friday, November 2nd were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 5.33%. The ex-dividend date was Thursday, November 1st. Teekay’s dividend payout ratio is currently -15.94%.

Several institutional investors and hedge funds have recently modified their holdings of TK. Luminus Management LLC purchased a new position in shares of Teekay during the 3rd quarter worth $4,365,000. Renaissance Technologies LLC grew its holdings in shares of Teekay by 739.3% during the 2nd quarter. Renaissance Technologies LLC now owns 572,400 shares of the shipping company’s stock worth $4,436,000 after purchasing an additional 504,200 shares during the period. BlackRock Inc. grew its holdings in shares of Teekay by 15.2% during the 2nd quarter. BlackRock Inc. now owns 3,292,755 shares of the shipping company’s stock worth $25,519,000 after purchasing an additional 433,258 shares during the period. American Century Companies Inc. purchased a new position in shares of Teekay during the 2nd quarter worth $2,676,000. Finally, Richard Bernstein Advisors LLC purchased a new position in shares of Teekay during the 2nd quarter worth $1,706,000. 23.60% of the stock is owned by institutional investors and hedge funds.

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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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