Teekay Tankers (TNK) ended the recent trading session at $62.00, demonstrating a +1.89% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 1.16%. Elsewhere, the Dow gained 1.21%, while the tech-heavy Nasdaq added 1.18%.
The oil and gas shipping company's shares have seen an increase of 13.02% over the last month, surpassing the Transportation sector's loss of 0.81% and the S&P 500's loss of 0.42%.
The upcoming earnings release of Teekay Tankers will be of great interest to investors. On that day, Teekay Tankers is projected to report earnings of $1.96 per share, which would represent year-over-year growth of 30.67%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.1 per share and a revenue of $0 million, signifying shifts of -40.83% and 0%, respectively, from the last year.
It is also important to note the recent changes to 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 remained steady. Teekay Tankers currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 12.05. This expresses no noticeable deviation compared to the average Forward P/E of 12.05 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 100, positioning it in the top 41% 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.
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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