Teekay Corporation (TK) Receiving Somewhat Critical Press Coverage, Analysis Finds
News coverage about Teekay Corporation (NYSE:TK) has been trending somewhat negative recently, AlphaOne Sentiment Analysis reports. The research firm, a unit of Accern, identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Teekay Corporation earned a news impact score of -0.17 on AlphaOne’s scale. AlphaOne also assigned media stories about the shipping company an impact score of 52 out of 100, meaning that recent news coverage is somewhat likely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have impacted Alpha One’s analysis:
- Teekay Corporation (TK) Expected to Post Quarterly Sales of $514.47 Million (americanbankingnews.com)
- Royal Bank Of Canada Reaffirms Hold Rating for Teekay Corporation (TK) (americanbankingnews.com)
- Teekay Corporation (TK) Short Interest Up 46.6% in May (americanbankingnews.com)
- Teekay Corporation (TK) Expected to Post Earnings of -$0.22 Per Share (americanbankingnews.com)
- Downtrend Call Working As Teekay Stock Falls 36.2% (TK) (mysmartrend.com)
Teekay Corporation (NYSE TK) traded up 1.47% during mid-day trading on Friday, hitting $5.51. 4,275,929 shares of the stock traded hands. Teekay Corporation has a 12 month low of $5.22 and a 12 month high of $11.77. The stock has a 50-day moving average price of $6.83 and a 200-day moving average price of $8.63. The stock’s market cap is $475.29 million.
Teekay Corporation (NYSE:TK) last posted its quarterly earnings data on Thursday, May 18th. The shipping company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.24. The company had revenue of $543.50 million for the quarter, compared to analysts’ expectations of $497.83 million. Teekay Corporation had a negative return on equity of 1.86% and a negative net margin of 5.36%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. On average, equities analysts forecast that Teekay Corporation will post ($0.82) earnings per share for the current year.
Several analysts have issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a research note on Friday. Jefferies Group LLC reissued a “hold” rating and issued a $8.50 price objective on shares of Teekay Corporation in a research note on Tuesday, May 2nd. Zacks Investment Research raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, Morgan Stanley downgraded shares of Teekay Corporation from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $8.00 to $3.00 in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.94.
About Teekay Corporation
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
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