Teekay Tankers (TNK) closed the most recent trading day at $50.42, moving +2.4% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Shares of the oil and gas shipping company witnessed a loss of 5.03% over the previous month, trailing the performance of the Transportation sector with its gain of 1.24%, and the S&P 500's gain of 4.03%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. It is anticipated that the company will report an EPS of $1.1, marking a 39.89% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $132.3 million, down 11.38% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.61 per share and a revenue of $600.77 million, indicating changes of -45.59% and -17.82%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Teekay Tankers currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 8.78. This denotes a discount relative to the industry average Forward P/E of 10.62.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 25% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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