Teekay Corporation Ltd (NYSE: TK) has experienced a rise in its stock price by 15.03 compared to its previous closing price of 7.45. However, the company has seen a gain of 10.01% in its stock price over the last five trading days. globenewswire.com reported 2024-10-30 that HAMILTON, Bermuda, Oct. 30, 2024 (GLOBE NEWSWIRE) — Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company’s results for the quarter ended September 30, 2024 and announced that its Board of Directors has declared a cash dividend of $0.25 per share for the quarter ended September 30, 2024. The cash dividend is payable on November 22, 2024 to all shareholders of record as at November 12, 2024.
Is It Worth Investing in Teekay Corporation Ltd (NYSE: TK) Right Now?
The price-to-earnings ratio for Teekay Corporation Ltd (NYSE: TK) is above average at 5.44x. The 36-month beta value for TK is also noteworthy at 0.52. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 3 rating it as “hold,” and 1 rating it as “sell.”
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The public float for TK is 58.63M, and at present, short sellers hold a 1.04% of that float. The average trading volume of TK on October 31, 2024 was 726.64K shares.
TK’s Market Performance
The stock of Teekay Corporation Ltd (TK) has seen a 10.01% increase in the past week, with a -9.69% drop in the past month, and a 11.59% gain in the past quarter. The volatility ratio for the week is 2.40%, and the volatility levels for the past 30 days are at 2.71% for TK. The simple moving average for the past 20 days is 0.82% for TK’s stock, with a 3.70% simple moving average for the past 200 days.
Analysts’ Opinion of TK
Many brokerage firms have already submitted their reports for TK stocks, with BofA/Merrill repeating the rating for TK by listing it as a “Buy.” The predicted price for TK in the upcoming period, according to BofA/Merrill is $8 based on the research report published on October 22, 2018 of the previous year 2018.
TK Trading at -0.00% from the 50-Day Moving Average
After a stumble in the market that brought TK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -13.87% of loss for the given period.
Volatility was left at 2.71%, however, over the last 30 days, the volatility rate increased by 2.40%, as shares sank -10.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.00% upper at present.
During the last 5 trading sessions, TK rose by +10.40%, which changed the moving average for the period of 200-days by +5.26% in comparison to the 20-day moving average, which settled at $8.50. In addition, Teekay Corporation Ltd saw 19.86% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at TK starting from Speers Brody, who proposed sale 8,679 shares at the price of $9.13 back on Sep 24 ’24. After this action, Speers Brody now owns shares of Teekay Corporation Ltd, valued at $79,238 using the latest closing price.
Semple Alan, the Director of Teekay Corporation Ltd, proposed sale 33,487 shares at $8.18 during a trade that took place back on Aug 29 ’24, which means that Semple Alan is holding shares at $273,907 based on the most recent closing price.
Stock Fundamentals for TK
Current profitability levels for the company are sitting at:
- 0.31 for the present operating margin
- 0.35 for the gross margin
The net margin for Teekay Corporation Ltd stands at 0.11. The total capital return value is set at 0.19. Equity return is now at value 20.03, with 6.90 for asset returns.
Based on Teekay Corporation Ltd (TK), the company’s capital structure generated 0.07 points at debt to capital in total, while cash flow to debt ratio is standing at 8.86. The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is 25.04.
Currently, EBITDA for the company is 620.59 million with net debt to EBITDA at -1.21. When we switch over and look at the enterprise to sales, we see a ratio of 0.12. The receivables turnover for the company is 11.64for trailing twelve months and the total asset turnover is 0.6. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.99.
Conclusion
In summary, Teekay Corporation Ltd (TK) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.