Teekay Tankers (TNK) ended the recent trading session at $64.27, demonstrating a -1.34% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.51%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq lost 1.51%.
Shares of the oil and gas shipping company witnessed a gain of 21.78% over the previous month, beating the performance of the Transportation sector with its gain of 8.11%, and the S&P 500's gain of 0.93%.
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 $2.71, up 80.67% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $0 million, signifying shifts of -33.56% and 0%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Teekay Tankers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.9% higher within the past month. Right now, Teekay Tankers possesses a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Teekay Tankers is presently trading at a Forward P/E ratio of 11.74. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 11.74.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 40% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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