Teekay Tankers (TNK) closed at $42.24 in the latest trading session, marking a -0.17% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.28%, and the technology-centric Nasdaq decreased by 0.1%.
The oil and gas shipping company's shares have seen an increase of 9.38% over the last month, surpassing the Transportation sector's loss of 8.4% and the S&P 500's loss of 4.29%.
Analysts and investors alike will be keeping a close eye on the performance of Teekay Tankers in its upcoming earnings disclosure. On that day, Teekay Tankers is projected to report earnings of $1.53 per share, which would represent a year-over-year decline of 60.36%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.38 per share and a revenue of $662.04 million, signifying shifts of -38.12% and -9.44%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.34% decrease. Teekay Tankers currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 6.63. This valuation marks a discount compared to its industry's average Forward P/E of 9.64.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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