The Teekay Corporation (TK) Cut to "Sell" at BidaskClub

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Two analysts have issued estimates for Teekay Corporation's earnings, with estimates ranging from $498.31 million to $526.33 million. Teekay Corporation posted sales of $510.43 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 2nd. Equities analysts predict that Teekay Corporation will post ($1.36) earnings per share for the current year. For the next financial year, analysts forecast that the firm will post sales of $2.38 billion per share, with estimates ranging from $2.35 billion to $2.40 billion.

Teekay Corporation (TK) now the company's industry has 41.53 P/E and the sector P/E is 17.23. The analysts estimated EPS for the higher end at -0.42 and lower end at -0.57 while the year ago reported earnings per share was -0.16. The business had revenue of $513.90 million during the quarter, compared to analyst estimates of $503.65 million. However it has a net margin of -5.40%. Similarly, the company's last 5 years high P/E ratio is 8.79 and low P/E is 8.79, whereas, the industry's and sector's high P/E for the past year is 173.84 and 25.66 respectively and low P/E ratio for the last 5 years is 12.68 for the industry and 10.09 for the Sector. In contrast to the year ago quarter EPS was at 0.37.

A number of large investors have recently modified their holdings of the company. Royal Bank Of Canada reiterated a "hold" rating on shares of Teekay Corporation in a research note on Tuesday, May 9th.

Additionally on 7/27/16 Jefferies "Maintained" Teekay Shipping Corp (NYSE:TK) to Hold setting price target at $7 and on 5/31/16 Morgan Stanley "Maintained" the stock to Equal-Weight at $8. Finally, BidaskClub downgraded shares of Teekay Corporation from a "hold" rating to a "sell" rating in a report on Wednesday, July 12th.

In terms of Buy, Sell or Hold recommendations, Teekay Shipping Corp (NYSE:TK) has analysts' mean recommendation of 3.3. The company now has an average rating of "Hold" and an average price target of $5.33.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & worldwide trademark & copyright legislation. The original version of this news story can be accessed at https://transcriptdaily.com/2017/08/07/teekay-corporation-tk-position-raised-by-alliancebernstein-l-p.html.

Institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new stake in shares of Teekay Corporation during the first quarter valued at approximately $176,000. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company's stock valued at $2,351,000 after buying an additional 7,475 shares during the last quarter. Wellington Shields Capital Management LLC owned approximately 0.23% of Teekay Corporation worth $1,314,000 as of its most recent SEC filing. Russell Investments Group Ltd. acquired a new stake in shares of Teekay Corporation during the first quarter valued at about $154,000. Creative Planning now owns 21,500 shares of the shipping company's stock worth $197,000 after buying an additional 18,135 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Teekay Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 92,892 shares of the shipping company's stock worth $746,000 after buying an additional 7,754 shares during the last quarter.

Teekay Shipping Corp (NYSE:TK) shares traded on -0.4% down secure line and closed at $9.86. With 2.37M shares average volume, it will take short sellers 6 days to cover their TK's short positions. The level of 50 represents neutral market momentum and corresponds with the center line in other oscillators such as MACD (Moving Average Convergence/Divergence). Teekay Corporation has a 52-week low of $5.14 and a 52-week high of $11.77. The market capitalization of the company is at $861.37 Million.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.055 per share.

The company has mean EPS estimate of -0.09 reported by 2 number of analyst for the quarter ending Current Qtr.(Sep2017). The ex-dividend date of this dividend is Wednesday, August 2nd.

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