Barclays Capital upgraded shares of Teekay Corp. (NYSE:TK) from an equal weight rating to an overweight rating in a report released on Wednesday, ARN reports. Barclays Capital currently has $56.00 price objective on the stock, up from their previous price objective of $35.00.
Shares of Teekay Corp. (NYSE:TK) traded down 0.34% during mid-day trading on Wednesday, hitting $42.44. The stock had a trading volume of 123,229 shares. Teekay Corp. has a 52-week low of $28.88 and a 52-week high of $43.40. The stock’s 50-day moving average is $41.03 and its 200-day moving average is $38.66. The company’s market cap is $3.001 billion.
Teekay Corp. (NYSE:TK) last announced its earnings results on Thursday, August 8th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.26) by $0.21. The company had revenue of $430.70 million for the quarter, compared to the consensus estimate of $418.34 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The company’s quarterly revenue was down 11.5% on a year-over-year basis. Analysts expect that Teekay Corp. will post $-1.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.32 per share. This represents a $1.27 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, October 11th.
Several other analysts have also recently commented on the stock. Analysts at TheStreet downgraded shares of Teekay Corp. from a buy rating to a hold rating in a research note to investors on Thursday, August 15th. Analysts at Jefferies Group raised their price target on shares of Teekay Corp. from $43.00 to $47.00 in a research note to investors on Tuesday, July 23rd. They now have a buy rating on the stock. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Teekay Corp. currently has an average rating of Buy and an average price target of $46.20.
Teekay Corporation (NYSE:TK) is a provider of international crude oil and gas marine transportation services and it also offer offshore oil production, storage and offloading services, under long-term, fixed-rate contracts.
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