Breaking: Is Teekay Corporation a Buy? The Stock Rises Again

Breaking: Is Teekay Corporation a Buy? The Stock Rises Again

The stock of Teekay Corporation (NYSE:TK) is a huge mover today! About 741,593 shares traded hands. Teekay Corporation (NYSE:TK) has declined 3.63% since February 29, 2016 and is downtrending. It has underperformed by 15.84% the S&P500.
The move comes after 7 months positive chart setup for the $585.35M company. It was reported on Oct, 3 by We have $10.18 PT which if reached, will make NYSE:TK worth $169.75M more.

Analysts await Teekay Corporation (NYSE:TK) to report earnings on November, 3. They expect $0.04 EPS, 0.00% or $0.00 from last year’s $0.04 per share. TK’s profit will be $2.97 million for 49.31 P/E if the $0.04 EPS becomes a reality. After $0.01 actual EPS reported by Teekay Corporation for the previous quarter, Wall Street now forecasts 300.00% EPS growth.

Teekay Corporation (NYSE:TK) Ratings Coverage

Out of 6 analysts covering Teekay Corporation (NYSE:TK), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Teekay Corporation has been the topic of 10 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Jefferies maintained Teekay Corporation (NYSE:TK) on Wednesday, July 27 with “Hold” rating. Morgan Stanley maintained the stock with “Equal-Weight” rating in Tuesday, May 31 report.

According to Zacks Investment Research, “Teekay Shipping Corporation is a leading provider of international crude oil and petroleum product transportation services through the world’s largest fleet of medium size oil tankers. The Company’s modern fleet provides such transportation services to major oil companies, major oil traders and government agencies, principally in the region spanning from the Red Sea to the U.S. West Coast.”

More important recent Teekay Corporation (NYSE:TK) news were published by: which released: “Teekay Corporation, Teekay Offshore Partners L.P. Stocks Sink 10%: Here’s What …” on January 07, 2016, also published article titled: “Why Teekay Offshore Partners L.P., Teekay LNG Partners L.P., and Teekay …”, published: “Teekay Corporation Reports Second Quarter 2016 Results” on August 04, 2016. More interesting news about Teekay Corporation (NYSE:TK) was released by: and their article: “Teekay Corporation Reports First Quarter 2016 Results” with publication date: May 19, 2016.

TK Company Profile

Teekay Corporation (Teekay), incorporated on February 9, 1979, is a well-known provider of crude gas and oil marine transportation services. The Firm also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Firm is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors through its subsidiary, Teekay LNG Partners L.P. (Teekay LNG). It is engaged in the activities in the offshore production, storage and transportation sector through its subsidiary, Teekay Offshore Partners L.P. (Teekay Offshore) and through its interest in Teekay Petrojarl AS. It is also engaged in the conventional tanker business through its subsidiary, Teekay Tankers Ltd. (Teekay Tankers). Teekay provides a set of marine services to the gas and oil companies. The Firm has four lines of business: offshore logistics (shuttle tankers, the HiLoad DP unit, floating storage and off-take (FSO) units, units for maintenance and safety (UMS), and long-distance towing and offshore installation vessels), offshore production (floating production, storage and offloading (FPSO) units), liquefied gas carriers and conventional tankers.

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