Scotia Capital Inc. Buys Shares of 46,397 Teekay Corporation (TK)

Scotia Capital Inc. bought a new position in Teekay Corporation (NYSE:TK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 46,397 shares of the shipping company’s stock, valued at approximately $309,000. Scotia Capital Inc. owned approximately 0.05% of Teekay Corporation as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in TK. Russell Investments Group Ltd. bought a new position in shares of Teekay Corporation in the 1st quarter worth approximately $154,000. Bank of New York Mellon Corp raised its position in shares of Teekay Corporation by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock worth $2,351,000 after acquiring an additional 7,475 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Teekay Corporation in the 1st quarter worth approximately $255,000. American International Group Inc. raised its position in shares of Teekay Corporation by 17.2% in the 1st quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock worth $271,000 after acquiring an additional 4,359 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Teekay Corporation by 8.6% in the 1st quarter. Alliancebernstein L.P. now owns 71,700 shares of the shipping company’s stock worth $656,000 after acquiring an additional 5,700 shares in the last quarter. 31.51% of the stock is owned by hedge funds and other institutional investors.

Teekay Corporation (NYSE:TK) last posted its earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). The company had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $503.65 million. Teekay Corporation had a negative return on equity of 2.82% and a negative net margin of 5.66%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Corporation’s payout ratio is presently -15.38%.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/18/scotia-capital-inc-buys-shares-of-46397-teekay-corporation-tk.html.

TK has been the subject of a number of analyst reports. Zacks Investment Research lowered Teekay Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. ValuEngine lowered Teekay Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub raised Teekay Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 price objective on shares of Teekay Corporation in a research report on Thursda

Several other large investors have also recently made changes to their positions in TK. Russell Investments Group Ltd. bought a new position in shares of Teekay Corporation in the 1st quarter worth approximately $154,000. Bank of New York Mellon Corp raised its position in shares of Teekay Corporation by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock worth $2,351,000 after acquiring an additional 7,475 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Teekay Corporation in the 1st quarter worth approximately $255,000. American International Group Inc. raised its position in shares of Teekay Corporation by 17.2% in the 1st quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock worth $271,000 after acquiring an additional 4,359 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Teekay Corporation by 8.6% in the 1st quarter. Alliancebernstein L.P. now owns 71,700 shares of the shipping company’s stock worth $656,000 after acquiring an additional 5,700 shares in the last quarter. 31.51% of the stock is owned by hedge funds and other institutional investors.

Teekay Corporation (NYSE:TK) last posted its earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). The company had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $503.65 million. Teekay Corporation had a negative return on equity of 2.82% and a negative net margin of 5.66%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Corporation’s payout ratio is presently -15.38%.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/18/scotia-capital-inc-buys-shares-of-46397-teekay-corporation-tk.html.

TK has been the subject of a number of analyst reports. Zacks Investment Research lowered Teekay Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. ValuEngine lowered Teekay Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub raised Teekay Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 price objective on shares of Teekay Corporation in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.75.

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.

Institutional Ownership by Quarter for Teekay Corporation (NYSE:TK)

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