Teekay Corp (NYSE: TK) has reported earnings for its first fiscal quarter (ending March 31) of $0.59 versus $0.49 for the same period a year ago — an increase of 20%. E.P.S. were $1.68 for the latest four quarters through March 31 versus $1.25 for the same period a year ago — an increase of 34%.
Recent Price Action
On 5/9/24, Teekay Corp (NYSE: TK) stock enjoyed a very large increase of 7.4%, closing at $8.66. Moreover, exceptionally high trading volume at 215% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months and has risen 15.3% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, TK is expected to continue to be a major Value Builder.
Teekay has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Teekay has a slightly positive Appreciation Score of 64 and a good Power Rating of 81, resulting in the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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