The latest trading session saw Teekay Tankers (TNK) ending at $47.31, denoting a +0.32% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.83%. Elsewhere, the Dow gained 1.65%, while the tech-heavy Nasdaq added 2.45%.
Shares of the oil and gas shipping company have appreciated by 24.63% over the course of the past month, outperforming the Transportation sector's loss of 2.55% and the S&P 500's loss of 3.31%.
Investors will be eagerly watching for the performance of Teekay Tankers in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.81, marking a 36.93% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $158.26 million, down 18.62% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Teekay Tankers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.94% decrease. Teekay Tankers is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Teekay Tankers has a Forward P/E ratio of 6.18 right now. For comparison, its industry has an average Forward P/E of 8.03, which means Teekay Tankers is trading at a discount to the group.
It's also important to note that TNK currently trades at a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Shipping industry currently had an average PEG ratio of 0.53 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Free Today: Profiting from The Future’s Brightest Energy Source
The demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.
Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.
Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.
Download Atomic Opportunity: Nuclear Energy's Comeback free today.Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
