Teekay Co. (NYSE:TK)’s share price rose 5.4% on Wednesday . The stock traded as high as $9.99 and last traded at $9.82. Approximately 1,695,400 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 1,044,200 shares. The stock had previously closed at $9.32.

TK has been the topic of several analyst reports. Zacks Investment Research lowered shares of Teekay from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th. Jefferies Group restated a “hold” rating and issued a $8.00 price objective on shares of Teekay in a report on Thursday, October 12th. Finally, ValuEngine lowered shares of Teekay from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.00.

The firm has a market cap of $865.22, a price-to-earnings ratio of -6.15 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.70 and a current ratio of 0.70.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.03. Teekay had a negative net margin of 6.66% and a negative return on equity of 3.48%. The business had revenue of $500.80 million for the quarter, compared to analyst estimates of $475.32 million. During the same period in the prior year, the business posted ($0.23) earnings per share. Teekay’s revenue was down 8.5% compared to the same quarter last year. equities research analysts expect that Teekay Co. will post -1.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.19%. Teekay’s dividend payout ratio is currently -13.50%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Convergence Investment Partners LLC acquired a new stake in Teekay in the third quarter worth $532,000. Legal & General Group Plc raised its holdings in Teekay by 38.9% in the third quarter. Legal & General Group Plc now owns 146,537 shares of the shipping company’s stock worth $1,310,000 after purchasing an additional 41,013 shares during the period. Malaga Cove Capital LLC raised its holdings in Teekay by 124.4% in the third quarter. Malaga Cove Capital LLC now owns 103,123 shares of the shipping company’s stock worth $929,000 after purchasing an additional 57,172 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Teekay in the third quarter worth $212,000. Finally, Wellington Shields Capital Management LLC raised its holdings in Teekay by 14.7% in the third quarter. Wellington Shields Capital Management LLC now owns 226,000 shares of the shipping company’s stock worth $2,018,000 after purchasing an additional 29,000 shares during the period. Institutional investors own 27.73% of the company’s stock.

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Teekay Company Profile

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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