Teekay Tankers (TNK) closed at $44.25 in the latest trading session, marking a +2.22% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.83%. Meanwhile, the Dow experienced a rise of 0.77%, and the technology-dominated Nasdaq saw an increase of 1.02%.
Shares of the oil and gas shipping company witnessed a loss of 4.75% over the previous month, trailing the performance of the Transportation sector with its gain of 5.56%, and the S&P 500's gain of 4.99%.
Investors will be eagerly watching for the performance of Teekay Tankers in its upcoming earnings disclosure. The company is expected to report EPS of $1.59, down 48.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $172.46 million, down 12.23% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.69 per share and a revenue of $646.53 million, demonstrating changes of -35.11% and -11.56%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 3.4% higher within the past month. At present, Teekay Tankers boasts a Zacks Rank of #3 (Hold).
Investors should also note Teekay Tankers's current valuation metrics, including its Forward P/E ratio of 6.48. This valuation marks a discount compared to its industry average Forward P/E of 8.81.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 28, placing it within the top 12% 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.
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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