Teekay Tankers (TNK) Stock Sinks As Market Gains: What You Should Know
Teekay Tankers (TNK) closed at $36.50 in the latest trading session, marking a -1.11% move from the prior day. This move lagged the S&P 500's daily gain of 0.93%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Coming into today, shares of the oil and gas shipping company had lost 11.55% in the past month. In that same time, the Transportation sector gained 0.92%, while the S&P 500 gained 4.61%.
Teekay Tankers will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $4.22, up 455.26% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $230.07 million, up 99.35% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.46 per share and revenue of $830.48 million, which would represent changes of +110.64% and +46.34%, respectively, from the prior year.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 14.55% higher. 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 2.74. This represents a discount compared to its industry's average Forward P/E of 6.18.
It is also worth noting that TNK currently has a PEG ratio of 0.91. 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. The Transportation - Shipping was holding an average PEG ratio of 0.91 at yesterday's closing price.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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
