Teekay Tankers (TNK) ended the recent trading session at $44.86, demonstrating a +2.61% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.54%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 0.74%.
The stock of oil and gas shipping company has fallen by 6.32% in the past month, lagging the Transportation sector's gain of 2.66% and the S&P 500's gain of 4.2%.
The upcoming earnings release of Teekay Tankers will be of great interest to investors. The company is predicted to post an EPS of $1.35, indicating a 56.17% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $172.46 million, indicating a 12.23% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.89 per share and revenue of $646.53 million, which would represent changes of -42.87% and -11.56%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Teekay Tankers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.89% downward. Right now, Teekay Tankers possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 7.42. Its industry sports an average Forward P/E of 9.65, so one might conclude that Teekay Tankers is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Teekay Tankers Ltd. (TNK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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