Teekay Corporation (NYSE:TK) Given Price Target Of $8


As per Teekay Corporation (NYSE:TK)’s news release on 2016-07-08, its shareholders will get cash dividend of $0.055 per share. The recent press release updated on the record date and payout date, which stands at 2016-07-29 and 2016-08-17, respectively.

The stock will commence trading ex-dividend from 2016-07-27, until, which the shareholders are compelled to keep the holdings so as to qualify for the dividend. Evaluating the dividend distribution mode, it was noted that last year Teekay Corporation (NYSE:TK) disbursed $0.055 in dividend compared to distribution of $0.055, a year ago.

It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 36.9565%.

Analyst Perspective

The sell-side market professionals who track the firm’s financial and technical parameters have estimated Teekay Corporation (NYSE:TK) to attain a price target of $8. It is an average estimate figure given by 3 analysts tracking the stock. The estimates disclosed that the stock can move up on the chart and hit a high of $9. The low price range is set at $7 for next year while the arithmetic mean is seen at 2.83.

Eyeing Earnings Teekay Corporation (NYSE:TK) is likely to post quarterly numbers around 2016-11-03 for the quarter ending 2016-09-30. The quarterly EPS projection is set at $0.04 for the period ending on 2016-09-30.

In last quarter ended 2015-12-31, Teekay Corporation (NYSE:TK) earnings came at $0.01 suggesting a deviation of $0.22. The brokerages targeted EPS of $-0.21 for the quarter.

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