Market Analysts see Teekay Corporation [TK] gaining to $8. Time to buy?

Teekay Corporation [NYSE: TK] slipped around -0.32 points on Monday, while shares priced at $3.73 at the close of the session, down -7.90%. The company report on May 28, 2021 that Teekay Corporation Completes Banff Decommissioning Agreement.

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Teekay Corporation (Teekay or the Company) (NYSE:TK) announces the completion of the remaining conditions precedent relating to the previously announced Decommissioning Services Agreement (DSA) with CNR International (UK) Limited (CNRI), on behalf of the Banff joint venture, whereby Teekay has engaged CNRI to decommission the Company’s remaining subsea infrastructure located within the CNRI-operated Banff Field. As part of the DSA, which is now in full effect, CNRI has assumed full responsibility for Teekay’s remaining asset retirement obligations (Phase II) for the above-mentioned facilities, which should enable CNRI to complete Teekay’s Phase II work in conjunction with their other decommissioning work at the Banff Field in a more efficient manner.

As part of the transaction, Teekay has now been deemed to have completed all of its prior decommissioning obligations associated with the Banff Field and as a result, the Company expects to reduce its accrued asset retirement obligations by approximately $30 million in the second quarter of 2021.

Teekay Corporation stock is now 73.49% up from its year-to-date (YTD) trading value. TK Stock saw the intraday high of $4.02 and lowest of $3.6414 per share. The company’s 52-week high price is 4.17, which means current price is +68.78% above from all time high which was touched on 06/25/21.

Compared to the average trading volume of 758.46K shares, TK reached a trading volume of 1181155 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 0.19, with the Price to Sales ratio for TK stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 2.77. Price to Free Cash Flow for TK in the course of the last twelve months was 0.77 with Quick ratio for the last quarter at 0.60.

How has TK stock performed recently?

Teekay Corporation [TK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.61. With this latest performance, TK shares gained by 5.97% in over the last four-week period, additionally plugging by 54.77% over the last 6 months – not to mention a rise of 71.89% 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 47.31, with the RSI for the last a single of trading hit 42.42, and the three-weeks RSI is set at 50.01 for Teekay Corporation [TK]. The present Moving Average for the last 50 days of trading for this stock 3.60, while it was recorded at 3.94 for the last single week of trading, and 2.90 for the last 200 days.

Teekay Corporation [TK]: Deeper insight into the fundamentals

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 -1.96. 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 795.87. Additionally, TK Total Debt to Total Capital is recorded at 88.84, with Total Debt to Total Assets ending up at 55.16. Long-Term Debt to Equity for the company is recorded at 702.70, with the Long-Term Debt to Total Capital now at 78.44.

Reflecting on the efficiency of the workforce at the company, Teekay Corporation [TK] managed to generate an average of -$15,501 per employee. Receivables Turnover for the company is 7.02 with a Total Asset Turnover recorded at a value of 0.24.Teekay Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings analysis for Teekay Corporation [TK]

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%.

Insider trade positions for Teekay Corporation [TK]

There are presently around $33 million, or 26.80% of TK stock, in the hands of institutional investors. The top three institutional holders of TK stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 2,317,375, which is approximately -2.74% of the company’s market cap and around 41.70% of the total institutional ownership; D. E. SHAW & CO., INC., holding 963,458 shares of the stock with an approximate value of $3.59 million in TK stocks shares; and MORGAN STANLEY, currently with $3.45 million in TK stock with ownership of nearly 33.846% of the company’s market capitalization.

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Positions in Teekay Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 26 institutional holders increased their position in Teekay Corporation [NYSE:TK] by around 1,349,716 shares. Additionally, 30 investors decreased positions by around 1,681,885 shares, while 14 investors held positions by with 5,735,503 shares. The mentioned changes placed institutional holdings at 8,767,104 shares, according to the latest SEC report filing. TK stock had 14 new institutional investments in for a total of 423,735 shares, while 10 institutional investors sold positions of 642,149 shares during the same period.

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