Teekay Tankers (TNK) closed at $39.91 in the latest trading session, marking a -0.03% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.55%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw an increase of 1.24%.
The upcoming earnings release of Teekay Tankers will be of great interest to investors. The company is forecasted to report an EPS of $1.81, showcasing a 36.93% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.26 million, down 18.62% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 26.22% downward. Teekay Tankers is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 5.24. This denotes a discount relative to the industry's average Forward P/E of 6.9.
One should further note that TNK currently holds a PEG ratio of 1.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Shipping industry had an average PEG ratio of 0.52 as trading concluded yesterday.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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