In the latest trading session, Teekay Tankers (TNK) closed at $53.17, marking a -2.26% move from the previous day. This change lagged the S&P 500's daily loss of 0.14%. Elsewhere, the Dow saw a downswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.24%.
Coming into today, shares of the oil and gas shipping company had lost 2.03% in the past month. In that same time, the Transportation sector gained 4.84%, while the S&P 500 gained 0.94%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. The company is expected to report EPS of $1.96, up 30.67% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $6.1 per share and a revenue of $0 million, demonstrating changes of -40.83% and 0%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Teekay Tankers holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 8.92. This denotes a discount relative to the industry average Forward P/E of 11.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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