In the latest trading session, Teekay Tankers (TNK) closed at $42.92, marking a -2.45% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.61% for the day. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.95%.
The stock of oil and gas shipping company has risen by 0.76% in the past month, lagging the Transportation sector's gain of 2.95% and the S&P 500's gain of 3.85%.
Investors will be eagerly watching for the performance of Teekay Tankers in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.59, reflecting a 48.38% decrease from the same quarter last year. 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 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.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.4% higher within the past month. Right now, Teekay Tankers possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 6.58. This expresses a discount compared to the average Forward P/E of 8.99 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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