Markets
DAC

Teekay Corporation (TK) in Focus: Stock Plunges 58.4%

Teekay CorporationTK saw a big move in the last trading session, as the company's shares fell by over 58% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for TK, as the stock is now down 74% in the past one-month time frame.

The company's shares slumped after it slashed its quarterly dividend by 90% to 5.5 cents per share, down from 55 cents per share.

The company, which primarily provides crude oil and gas marine transportation services in Bermuda and internationally, has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

TK currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

Investors interested in the Transportation - Shipping industry may consider a better-ranked stock like Danaos Corporation DAC , carrying a Zacks Rank #1 (Strong Buy).

Is TK going up? Or down? Predict to see what others think: Up or Down

Want thelatest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

DANAOS CORP (DAC): Free Stock Analysis Report

TEEKAY CORP (TK): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

DAC TK

Other Topics

Investing Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More