Do Teekay Corporation (NYSE: TK) Fit In A Value Investing Philosophy?


BlackRock Fund Advisors recently announced the acquisition of new stake in Teekay Corporation (NYSE:TK). The institutional investor has increased its shareholding in the Energy company by 4.39% to 3.44 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 3.41% valued currently at $8.26 million. In addition, Renaissance Technologies LLC raised its holdings by 0.17 million to 2.4 million shares. And Ábaco Capital SGIIC SA has lifted its position by 14.68% or 0.17 million shares – to 1.3 million shares.

With over 1.17 million Teekay Corporation (TK) shares trading Wednesday and a closing price of $2.64 on the day, the dollar volume was approximately $3.08 million. The shares have shown a positive weekly performance of 0.82% and its price on 07/28/20 gained nearly 7.32%. Currently, there are 100.89M common shares owned by the public and among those 69.17M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for TK have a consensus price objective of $3.50. The analysts have set the share’s price value over the next 12 months at a high of $3.50 and a low of $3.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Teekay Corporation stock is 3.00 for the next 12 months. But an upside of 24.57% will see the stock hit the forecast high price target while mean target price for the stock is $3.50.

The top 3 mutual fund holders in Teekay Corporation are Cobas Seleccion, FI, Cobas Internacional, FI, and Cobas LUX SICAV – Global Fund. Cobas Seleccion, FI owns 5.95 million shares of the company’s stock, all valued at over $14.27 million. The company sold -0.4 million shares recently to bring their total holdings to about 5.88% of the shares outstanding. Cobas Internacional, FI sold 43706.0 shares to see its total holdings shrink to 4.03 million shares valued at over $9.67 million and representing 3.99% of the shares outstanding. Cobas LUX SICAV – Global Fund bought 0.58 million shares to bring its total holdings to over 1.13 million shares at a value of $2.71 million. Cobas LUX SICAV – Global Fund now owns shares totaling to 1.12% of the shares outstanding.

Shares of Teekay Corporation (NYSE: TK) opened at $2.45, down -$0.01 from a prior closing price of $2.46. However, the script later closed the day at $2.64, up 7.32%. The company’s stock has a 5-day price change of 0.82% and -41.57% over the past three months. TK shares are trading -53.76% year to date (YTD), with the 12-month market performance down to -42.25% lower. It has a 12-month low price of $2.04 and touched a high of $5.76 over the same period. Currently, 1.17 million shares have been traded, compared to an average intraday trading volume of 1.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.96%, 1.13%, and -29.20% respectively.

Institutional ownership of Teekay Corporation (NYSE: TK) shares accounts for 36.40% of the company’s 100.89M shares outstanding. Mutual fund holders own 16.71%, while other institutional holders and individual stakeholders account for 20.06% and — respectively.

It has a market capitalization of $248.68M and a beta (3y monthly) value of 1.34. The earnings-per-share (ttm) stands at -$2.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.37% over the week and 5.92% over the month.

Analysts forecast that Teekay Corporation (TK) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.02 a year ago. EPS should grow at an annualized rate of 12.00% over the next five years, compared to -32.30% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Teekay Corporation (TK) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the TK, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on October 22, 2018, with the firm’s price target at $8. Morgan Stanley coverage for the Teekay Corporation (TK) stock in a research note released on June 09, 2017 offered a Underweight rating with a price target of. Raymond James was of a view on December 21, 2015 that the stock is Mkt Perform, while Wells Fargo gave the stock Market Perform rating on December 17, 2015, issuing a price target of. Seaport Global Securities on their part issued Neutral rating on December 17, 2015.


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