In the latest close session, Teekay Tankers (TNK) was down 1.25% at $43.49. The stock's change was less than the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.
Shares of the oil and gas shipping company have appreciated by 1.47% over the course of the past month, underperforming the Transportation sector's gain of 1.77%, and the S&P 500's gain of 5.12%.
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 $1.59, down 48.38% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $172.46 million, showing a 12.23% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.69 per share and revenue of $646.53 million, which would represent changes of -35.11% and -11.56%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has shifted 3.4% upward. Currently, Teekay Tankers is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Teekay Tankers is holding a Forward P/E ratio of 6.59. This expresses a discount compared to the average Forward P/E of 8.92 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 46, placing it within the top 19% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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