Teekay Corporation [TK] Revenue clocked in at $1.37 billion, up 59.07% YTD: What’s Next?

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Teekay Corporation [NYSE: TK] closed the trading session at $3.42 on 11/24/21. The day’s price range saw the stock hit a low of $3.27, while the highest price level was $3.43. The company report on November 10, 2021 that Teekay LNG Partners Completes Norwegian Bond Offering.

Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) announces that it has priced NOK 1,000 million in new senior unsecured bonds that mature in November 2026 in the Norwegian bond market. The new bond issuance, which was significantly oversubscribed, has an aggregate principal amount equivalent to approximately USD 116 million and all payments will be swapped into a U.S. dollar fixed-rate coupon of approximately 6.37%. Teekay LNG expects to close the bond offering on November 18, 2021, subject to customary closing conditions. The net proceeds from the bonds are expected to be used for general partnership purposes. Teekay LNG will apply for listing of the new bonds on the Oslo Stock Exchange.


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DNB Markets, Nordea, Danske Bank, SEB, Swedbank and Credit Agricole Corporate and Investment Bank acted as Joint Lead Managers.

The stocks have a year to date performance of 59.07 percent and weekly performance of -2.29 percent. The stock has been moved at -2.84 percent over the last six months. The stock has performed -5.52 percent around the most recent 30 days and changed 16.72 percent over the most recent 3-months.

If compared to the average trading volume of 771.77K shares, TK reached to a volume of 841769 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 0.12, with the Price to Sales ratio for TK stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 2.28. Price to Free Cash Flow for TK in the course of the last twelve months was 4.12 with Quick ratio for the last quarter at 0.60.

TK stock trade performance evaluation

Teekay Corporation [TK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.29. With this latest performance, TK shares dropped by -5.52% in over the last four-week period, additionally sinking by -2.84% over the last 6 months – not to mention a rise of 34.65% 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 41.26, with the RSI for the last a single of trading hit 35.91, and the three-weeks RSI is set at 44.98 for Teekay Corporation [TK]. The present Moving Average for the last 50 days of trading for this stock 3.57, while it was recorded at 3.43 for the last single week of trading, and 3.40 for the last 200 days.

Teekay Corporation [TK]: An insightful look at the core 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 per share (EPS) analysis for Teekay Corporation [TK] stock

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%.

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Teekay Corporation [TK]: Insider Ownership positions

There are presently around $49 million, or 32.50% of TK stock, in the hands of institutional investors. The top three institutional holders of TK stocks are: BLACKROCK INC. with ownership of 3,905,679, which is approximately 1.693% of the company’s market cap and around 41.70% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 2,205,075 shares of the stock with an approximate value of $7.54 million in TK stocks shares; and STATE STREET CORP, currently with $2.63 million in TK stock with ownership of nearly 33.341% of the company’s market capitalization.

Positions in Teekay Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 38 institutional holders increased their position in Teekay Corporation [NYSE:TK] by around 1,510,300 shares. Additionally, 34 investors decreased positions by around 1,660,626 shares, while 17 investors held positions by with 11,229,095 shares. The mentioned changes placed institutional holdings at 14,400,021 shares, according to the latest SEC report filing. TK stock had 14 new institutional investments in for a total of 718,356 shares, while 15 institutional investors sold positions of 410,797 shares during the same period.

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