Saturday, April 10, 2021

Teekay Corporation [TK] is 76.28% higher this YTD. Is it still time to buy?

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Teekay Corporation [NYSE: TK] gained 13.13% on the last trading session, reaching $3.79 price per share at the time. The company report on March 18, 2021 that Teekay LNG Partners Declares Distributions on Series A and B Preferred Units.

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Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), has declared cash distributions of $0.5625 per unit on the Partnership’s Series A preferred units (NYSE:TGP PR A) and $0.5313 per unit on the Partnership’s Series B preferred units (NYSE:TGP PR B) for the period from January 1, 2021 to March 31, 2021. The cash distributions are payable on April 15, 2021 to all unitholders of record as at March 31, 2021.

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Teekay LNG’s preferred unit distributions are reported on Form 1099 for United States tax purposes.

Teekay Corporation represents 101.11 million in outstanding shares, while the company has a total market value of $338.71 million with the latest information. TK stock price has been found in the range of $3.40 to $3.88.

If compared to the average trading volume of 1.01M shares, TK reached a trading volume of 2502276 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Teekay Corporation [TK]:

BofA/Merrill have made an estimate for Teekay Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 22, 2018. The new note on the price target was released on June 09, 2017, representing the official price target for Teekay Corporation stock.

The Average True Range (ATR) for Teekay Corporation is set at 0.26, with the Price to Sales ratio for TK stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 3.90. Price to Free Cash Flow for TK in the course of the last twelve months was 0.35 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for TK stock

Teekay Corporation [TK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.28. With this latest performance, TK shares gained by 11.47% in over the last four-week period, additionally plugging by 72.27% over the last 6 months – not to mention a rise of 46.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TK stock in for the last two-week period is set at 62.59, with the RSI for the last a single of trading hit 65.33, and the three-weeks RSI is set at 61.34 for Teekay Corporation [TK]. The present Moving Average for the last 50 days of trading for this stock 3.16, while it was recorded at 3.45 for the last single week of trading, and 2.57 for the last 200 days.

Teekay Corporation [TK]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Teekay Corporation [TK] shares currently have an operating margin of +26.47 and a Gross Margin at +30.83. Teekay Corporation’s Net Margin is presently recorded at -4.57.

Return on Total Capital for TK is now 7.00, given the latest momentum, and Return on Invested Capital for the company is -1.95. Return on Equity for this stock declined to -17.22, with Return on Assets sitting at -1.10. When it comes to the capital structure of this company, Teekay Corporation [TK] has a Total Debt to Total Equity ratio set at 793.58. Additionally, TK Total Debt to Total Capital is recorded at 88.81, with Total Debt to Total Assets ending up at 55.00. Long-Term Debt to Equity for the company is recorded at 705.97, with the Long-Term Debt to Total Capital now at 79.00.

Teekay Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Teekay Corporation [TK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Teekay Corporation posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 125.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Teekay Corporation go to 12.00%.

An analysis of insider ownership at Teekay Corporation [TK]

There are presently around $35 million, or 27.40% of TK stock, in the hands of institutional investors. The top three institutional holders of TK stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 2,382,670, which is approximately 12.006% of the company’s market cap and around 41.70% of the total institutional ownership; ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, holding 761,767 shares of the stock with an approximate value of $2.89 million in TK stocks shares; and MORGAN STANLEY, currently with $2.62 million in TK stock with ownership of nearly -42.143% of the company’s market capitalization.

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Positions in Teekay Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 20 institutional holders increased their position in Teekay Corporation [NYSE:TK] by around 831,547 shares. Additionally, 32 investors decreased positions by around 2,944,360 shares, while 14 investors held positions by with 5,340,817 shares. The mentioned changes placed institutional holdings at 9,116,724 shares, according to the latest SEC report filing. TK stock had 7 new institutional investments in for a total of 316,949 shares, while 9 institutional investors sold positions of 346,306 shares during the same period.

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