Teekay (NYSE:TK) Cut to Hold at ValuEngine

Teekay (NYSE:TK) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday, February 4th.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Teekay from a “hold” rating to a “sell” rating in a research note on Saturday, December 8th. Bank of America began coverage on shares of Teekay in a research note on Monday, October 22nd. They issued a “buy” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Shares of NYSE TK traded up $0.01 on Monday, hitting $4.11. The company’s stock had a trading volume of 332,595 shares, compared to its average volume of 563,360. Teekay has a 12-month low of $2.92 and a 12-month high of $9.23. The company has a market capitalization of $412.77 million, a PE ratio of -7.75 and a beta of 1.40. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.16 and a quick ratio of 1.16.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, February 21st. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. Teekay had a negative net margin of 4.64% and a negative return on equity of 1.81%. The business had revenue of $374.30 million for the quarter. During the same period in the previous year, the company posted ($0.11) EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts forecast that Teekay will post 0.13 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. grew its stake in shares of Teekay by 83.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 11,000 shares of the shipping company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Wiley BROS. Aintree Capital LLC acquired a new position in shares of Teekay in the fourth quarter worth about $43,000. Virtu Financial LLC boosted its holdings in shares of Teekay by 60.8% in the third quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock worth $142,000 after buying an additional 7,962 shares during the period. Marshall Wace LLP acquired a new position in shares of Teekay in the third quarter worth about $283,000. Finally, BlueMountain Capital Management LLC boosted its holdings in shares of Teekay by 130.8% in the third quarter. BlueMountain Capital Management LLC now owns 42,867 shares of the shipping company’s stock worth $289,000 after buying an additional 24,290 shares during the period. 23.82% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Company Profile

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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