Teekay Tankers (TNK) Dips More Than Broader Markets: What You Should Know
Teekay Tankers (TNK) closed at $37.60 in the latest trading session, marking a -0.74% move from the prior day. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Prior to today's trading, shares of the oil and gas shipping company had lost 5.47% over the past month. This has lagged the Transportation sector's gain of 4.05% and the S&P 500's gain of 5.36% in that time.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. In that report, analysts expect Teekay Tankers to post earnings of $4.22 per share. This would mark year-over-year growth of 455.26%. Our most recent consensus estimate is calling for quarterly revenue of $230.07 million, up 99.35% from the year-ago period.
TNK's full-year Zacks Consensus Estimates are calling for earnings of $13.46 per share and revenue of $830.48 million. These results would represent year-over-year changes of +110.64% and +46.34%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Teekay Tankers is currently a Zacks Rank #3 (Hold).
Investors should also note Teekay Tankers's current valuation metrics, including its Forward P/E ratio of 2.81. For comparison, its industry has an average Forward P/E of 6.31, which means Teekay Tankers is trading at a discount to the group.
Investors should also note that TNK has a PEG ratio of 0.94 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TNK's industry had an average PEG ratio of 0.94 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.
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Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
