Teekay Tankers (TNK) closed the most recent trading day at $14.71, moving +1.45% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 1.67%.
Coming into today, shares of the oil and gas shipping company had gained 15.72% in the past month. In that same time, the Transportation sector gained 6.78%, while the S&P 500 gained 5.51%.
Wall Street will be looking for positivity from TNK as it approaches its next earnings report date. In that report, analysts expect TNK to post earnings of $2.90 per share. This would mark year-over-year growth of 825%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $219.46 million, up 100.22% from the year-ago period.
TNK's full-year Zacks Consensus Estimates are calling for earnings of $7.23 per share and revenue of $847.39 million. These results would represent year-over-year changes of +278.53% and +56.81%, respectively.
Investors might also notice recent changes to analyst estimates for TNK. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 25.28% lower. TNK is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, TNK currently has a Forward P/E ratio of 2.01. For comparison, its industry has an average Forward P/E of 6.97, which means TNK is trading at a discount to the group.
Meanwhile, TNK's PEG ratio is currently 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Shipping stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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