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Teekay Corporation (TK)

Market Closed
6 Jun, 20:00
NYSE NYSE
$
8. 61
-0.11
-1.26%
$
728.65M Market Cap
4.73 P/E Ratio
0% Div Yield
608,700 Volume
0 Eps
$ 8.72
Previous Close
Day Range
8.42 8.79
Year Range
5.65 9.78
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Teekay Corporation: Offering Exposure To Teekay Tankers At A Discount

Teekay Corporation: Offering Exposure To Teekay Tankers At A Discount

At the end of October 2024, Teekay Corporation owned 10.6 million Class A and Class B common shares of Teekay Tankers, currently worth ~$403 million. After the Teekay Tankers holdings, the second-largest asset of Teekay Corporation is a net cash position of $281.1 million. Once Teekay Tankers and Teekay Corporation are combined, the net cash balance increases to $744.6 million, which is unparalleled in the tanker industry.

Seekingalpha | 5 months ago
Teekay Group Announces Changes to Boards of Directors

Teekay Group Announces Changes to Boards of Directors

HAMILTON, Bermuda, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) announced today the following changes to their respective Boards of Directors, which are effective as of December 31, 2024. The changes further streamline and simplify the Teekay Group, and align with the previously announced goal of having Teekay Tankers serve as the sole operating platform within the Teekay Group and Teekay focusing on managing its controlling interest in Teekay Tankers:

Globenewswire | 6 months ago
Teekay Tankers: Significant Free Cash Flow Generation With 35% Of Market Cap In Net Cash

Teekay Tankers: Significant Free Cash Flow Generation With 35% Of Market Cap In Net Cash

Despite large declines in spot rates over the last few months, Teekay Tanker is still generating significant free cash flows. Spot rates would have to fall by another 50% before Teekay becomes neutral on a free cash flow basis. Even if it occurs, the company would be supported by its net cash balance of $463.5 million, which represents 35% of the market cap.

Seekingalpha | 6 months ago
Teekay: Discounted Bet On The Medium-Size Crude Tanker Markets - Buy (Rating Upgrade)

Teekay: Discounted Bet On The Medium-Size Crude Tanker Markets - Buy (Rating Upgrade)

Teekay Corporation reported profitable third quarter results, which were again driven by the performance of its main consolidated subsidiary, Teekay Tankers. In recent months, TK has executed significant share buybacks and increased its stake in Teekay Tankers. The company also announced a new $40 million share repurchase program. In addition, a $1 special cash dividend will be distributed to common shareholders next month.

Seekingalpha | 6 months ago
Teekay Tankers: Mediocre Fleet And Unattractive Shareholder Returns

Teekay Tankers: Mediocre Fleet And Unattractive Shareholder Returns

In recent months, seasonality has impacted dirty tanker rates. Besides that, China's crude imports declined. On the other hand, tanker supply fundamentals are still favorable. Teekay Tankers reported $52.4 million operating income for 3Q24, a 35% lower figure than 3Q23. 3Q24 net income is $58.8 million, and 3Q24 EPS is $1.69/share. The balance sheet is TNK's strength. The company has 3.1% Total Debt to Equity and 8.9% Total Liabilities to Total Assets.

Seekingalpha | 7 months ago
Teekay Corporation Ltd. (TK) Q3 2024 Earnings Call Transcript

Teekay Corporation Ltd. (TK) Q3 2024 Earnings Call Transcript

Teekay Corporation Ltd. (NYSE:TK ) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Kenneth Hvid - President & Chief Executive Officer Brody Speers - Chief Financial Officer Conference Call Participants Jon Chappell - Evercore Omar Nokta - Jefferies Ken Hoexter - Bank of America Operator Welcome to the Teekay Group Third Quarter 2024 Earnings Results Conference Call.

Seekingalpha | 7 months ago
Teekay Tankers Ltd. Reports Third Quarter 2024 Results and Declares Dividend

Teekay Tankers Ltd. Reports Third Quarter 2024 Results and Declares Dividend

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.

Globenewswire | 7 months ago
Teekay Corporation Ltd. Reports Third Quarter 2024 Results; Declares a Special Dividend; and Announces New Share Repurchase Program

Teekay Corporation Ltd. Reports Third Quarter 2024 Results; Declares a Special Dividend; and Announces New Share Repurchase Program

HAMILTON, Bermuda, Oct. 30, 2024 (GLOBE NEWSWIRE) --  Teekay Corporation Ltd. (Teekay or the Company) (NYSE:TK) today reported results for the three months ended September 30, 2024. The full earnings release and Teekay Group's earnings presentation are available on the Company's website here.

Globenewswire | 7 months ago
Teekay Group to Announce Third Quarter 2024 Earnings Results on October 30, 2024

Teekay Group to Announce Third Quarter 2024 Earnings Results on October 30, 2024

HAMILTON, Bermuda, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) (collectively, the Teekay Group) plan to release their financial results for the third quarter of 2024 after market close on Wednesday, October 30, 2024.

Globenewswire | 7 months ago
Teekay Corporation and Teekay Tankers Ltd. Announce Senior Management Changes

Teekay Corporation and Teekay Tankers Ltd. Announce Senior Management Changes

HAMILTON, Bermuda, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) (collectively, the Teekay Group) today announced the following senior management changes following a strategic review to simplify the management structure of the Teekay Group:

Globenewswire | 10 months ago
Teekay Tankers: Navigating Challenges, Seizing Opportunities Amid Favorable Market Dynamics

Teekay Tankers: Navigating Challenges, Seizing Opportunities Amid Favorable Market Dynamics

Teekay Tankers stock dropped 12% after Q2-2024 results, but financial health remains strong. Q2-2024 revenues dropped by 20% due to decreasing tanker spot day rates. Teekay Tankers benefits from historically high spot rates and a favorable market outlook despite risks from fleet age and oil demand fluctuations.

Seekingalpha | 10 months ago
Teekay Corporation - Upgrading On Excessive Discount To Net Asset Value - Buy

Teekay Corporation - Upgrading On Excessive Discount To Net Asset Value - Buy

In recent months, shares of Teekay Corporation have performed worse than its main consolidated subsidiary Teekay Tankers, thus resulting in a widened discount to net asset value. While tanker stocks have been under pressure as of late, industry prospects remain solid. With the discount to net asset value now above the long-standing 10% to 20% range, I would expect the company to resume share repurchases soon.

Seekingalpha | 10 months ago
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