Teekay (NYSE:TK) Stock Passes Above 50 Day Moving Average of $3.53

Teekay Co. (NYSE:TK)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.53 and traded as high as $3.28. Teekay shares last traded at $3.27, with a volume of 11,144 shares.

Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Teekay from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Thursday, March 21st. ValuEngine cut Teekay from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Co set a $4.00 price target on Teekay and gave the stock a “hold” rating in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Teekay has an average rating of “Hold” and a consensus price target of $6.19.

The stock has a 50-day simple moving average of $3.49. The firm has a market cap of $332.24 million, a PE ratio of -6.49 and a beta of 1.53. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.64.

Teekay (NYSE:TK) last released its quarterly earnings data on Thursday, May 23rd. The shipping company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.04). The business had revenue of $378.09 million during the quarter. Teekay had a negative return on equity of 1.67% and a negative net margin of 7.96%.

A number of large investors have recently added to or reduced their stakes in TK. Amundi Pioneer Asset Management Inc. grew its holdings in Teekay by 83.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 11,000 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the last quarter. Norges Bank acquired a new stake in Teekay in the fourth quarter valued at $38,000. BNP Paribas Arbitrage SA grew its holdings in Teekay by 478.5% in the first quarter. BNP Paribas Arbitrage SA now owns 14,301 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 11,829 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Teekay in the first quarter valued at $91,000. Finally, Virtu Financial LLC acquired a new stake in Teekay in the first quarter valued at $140,000. Hedge funds and other institutional investors own 20.90% of the company’s stock.

Teekay Company Profile (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 production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.

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