In the latest close session, Teekay Tankers (TNK) was down 1.97% at $43.37. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.19%, and the Nasdaq, a tech-heavy index, added 1.43%.
The oil and gas shipping company's shares have seen a decrease of 0.65% over the last month, not keeping up with the Transportation sector's gain of 2% and the S&P 500's gain of 3.92%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. On that day, Teekay Tankers is projected to report earnings of $1.9 per share, which would represent a year-over-year decline of 38.31%. Our most recent consensus estimate is calling for quarterly revenue of $172.46 million, down 12.23% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.47 per share and a revenue of $646.53 million, indicating changes of -37.25% and -11.56%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature 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. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Teekay Tankers presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 6.84. This represents a discount compared to its industry average Forward P/E of 9.25.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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