TK Stock Recent News

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.

Teekay Corporation (NYSE:TK ) Q2 2024 Earnings Call August 1, 2024 11:00 AM ET Company Participants Kevin Mackay - President and Chief Executive Officer Stewart Andrade - Chief Financial Officer Christian Waldegrave - Director, Research Conference Call Participants Omar Nokta - Jefferies Adam Roszkowski - Bank of America Operator Welcome to Teekay Tankers Ltd. Second Quarter 2024 Earnings Conference Call.

HAMILTON, Bermuda, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) plan to release their financial results for the fourth quarter and annual 2023 before market open on Thursday, February 22, 2024.

Teekay Corporation's stock has been steadily climbing and outperforming the broader markets, with a return of over 60%. The company's value is discounted compared to its equity, with a potential upside of $18.6 per share. Teekay is experiencing growth and generating robust free cash flow, allowing for share buybacks and increasing shareholder value.

HAMILTON, Bermuda, July 26, 2023 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) plan to release their financial results for the second quarter of 2023 before market open on Thursday, August 3, 2023.

Teekay Corporation shares have rallied after subsidiary and main asset Teekay Tankers Ltd. reported record first quarter results and announced an aggregate of $1.25 in dividends per share payable next month. Over the next four quarters, Teekay Corporation should receive at least $20 million in dividend payments from Teekay Tankers.

Teekay Corporation's shares rally to new multi-year highs after the company accelerated share buybacks over a couple of weeks. In recent months, the company has repurchased 6.3% of its outstanding common stock at an average price of $4.64 per share for a total of $30 million.

Teekay has authorized up to $30 million in share repurchases. The company announced the conclusion of a previous $30 million stock buyback program.

HAMILTON, Bermuda, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) plan to release their financial results for the fourth quarter and annual 2022 before market open on Thursday, February 23, 2023.

Global shipping companies continue to benefit from international LNG demand despite growing recession jitters. Earnings are seen as climbing in the near term for Teekay while its chart is even more bullish.