Teekay Corporation (NYSE: TK) stock fell -1.29% on Tuesday to $4.58 against a previous-day closing price of $4.64. With 0.5 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.9 million shares. During the session, the Oil & Gas Integrated company that operates in wider Energy sector, reached to the highest price of $4.6550 whereas the lowest price it dropped to was $4.4700. The 52-week range on TK shows that it touched its highest point at $4.80 and its lowest point at $2.54 during that stretch. Beta for the stock currently stands at 0.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TK was down-trending over the past week, with a drop of -2.55%, but this was down by -0.43% over a month. Three-month performance surged to 18.96% while six-month performance rose 50.66%. The stock gained 43.57% in the past year, while it has gained 0.88% so far this year. EPS is expected to grow by 12.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -10.90%.
Float and Shares Shorts:
At present, 102.61 million TK shares are outstanding with a float of 67.00 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.11 million, which was 1.09% higher than short shares on Sep 14, 2022. In addition to Mr. Kenneth Hvid as the firm’s Pres, CEO & Director, Mr. Vincent Lok serves as its Exec. VP & CFO.
Through their ownership of 29.94% of TK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 17.30% of TK, in contrast to 14.54% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in TK with 9.93% of the stake, Cobas Asset Management SGIIC SA holds 10,116,858 shares worth 10,116,858. A second-largest stockholder of TK, BlackRock Fund Advisors, holds 3,363,274 shares, controlling over 3.30% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in TK, holding 2,040,875 shares or 2.00% stake. With a 3.55% stake in TK, the Cobas Seleccion, FI is the largest stakeholder. A total of 3,620,369 shares are owned by the mutual fund manager. The Cobas Internacional, FI, which owns about 2.86% of TK stock, is the second-largest Mutual Fund holder. It holds 2,910,396 shares valued at 13.21 million. iShares Russell 2000 ETF holds 1.59% of the stake in TK, owning 1,615,003 shares worth 7.33 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TK since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TK analysts setting a high price target of $3.50 and a low target of $3.50, the average target price over the next 12 months is $3.50. Based on these targets, TK could drop -23.58% to reach the target high and fall by -23.58% to reach the target low. Reaching the average price target will result in a decline of -23.58% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TK will report FY 2019 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of -$0.25 being high and -$0.25 being low. For TK, this leads to a yearly average estimate of -$0.25. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.09. The average estimate for the next quarter is thus -$0.09.