Teekay (TK) Trading Up 7.7%

Teekay Co. (NYSE:TK)’s share price was up 7.7% on Monday . The company traded as high as $4.23 and last traded at $4.21. Approximately 1,210,520 shares traded hands during trading, an increase of 75% from the average daily volume of 689,972 shares. The stock had previously closed at $3.91.

Several equities analysts recently issued reports on the company. ValuEngine upgraded Teekay from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research upgraded Teekay from a “sell” rating to a “hold” rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $7.50.

The stock has a market capitalization of $392.70 million, a price-to-earnings ratio of -7.94 and a beta of 1.42. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.37 and a quick ratio of 1.16.

Teekay (NYSE:TK) last issued its quarterly earnings data on Thursday, February 21st. The shipping company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. The firm had revenue of $374.30 million for the quarter. Teekay had a negative return on equity of 2.21% and a negative net margin of 4.64%. Teekay’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) earnings per share. As a group, equities analysts expect that Teekay Co. will post 0.13 EPS for the current year.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Teekay by 1.2% during the third quarter. BlackRock Inc. now owns 3,331,701 shares of the shipping company’s stock valued at $22,455,000 after purchasing an additional 38,946 shares in the last quarter. Virtu Financial LLC boosted its position in shares of 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 purchasing an additional 7,962 shares in the last quarter. Cedar Capital LLC boosted its position in shares of Teekay by 30.7% during the fourth quarter. Cedar Capital LLC now owns 362,306 shares of the shipping company’s stock valued at $1,210,000 after purchasing an additional 85,017 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teekay by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 719,012 shares of the shipping company’s stock valued at $4,846,000 after purchasing an additional 144,043 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Teekay during the third quarter valued at approximately $283,000. Hedge funds and other institutional investors own 23.02% of the company’s stock.

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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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