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Teekay Tankers (TNK) Stock Sinks As Market Gains: What You Should Know
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Teekay Tankers (TNK - Free Report) closed the most recent trading day at $27.23, moving -0.48% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the oil and gas shipping company had lost 11.94% in the past month. In that same time, the Transportation sector lost 3.85%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. On that day, Teekay Tankers is projected to report earnings of $5.12 per share, which would represent year-over-year growth of 791.89%. Meanwhile, our latest consensus estimate is calling for revenue of $201.99 million, up 213.93% from the prior-year quarter.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 2.01. This valuation marks a discount compared to its industry's average Forward P/E of 4.79.
Meanwhile, TNK's PEG ratio is currently 0.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Transportation - Shipping industry currently had an average PEG ratio of 0.67 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Teekay Tankers (TNK) Stock Sinks As Market Gains: What You Should Know
Teekay Tankers (TNK - Free Report) closed the most recent trading day at $27.23, moving -0.48% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the oil and gas shipping company had lost 11.94% in the past month. In that same time, the Transportation sector lost 3.85%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. On that day, Teekay Tankers is projected to report earnings of $5.12 per share, which would represent year-over-year growth of 791.89%. Meanwhile, our latest consensus estimate is calling for revenue of $201.99 million, up 213.93% from the prior-year quarter.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 2.01. This valuation marks a discount compared to its industry's average Forward P/E of 4.79.
Meanwhile, TNK's PEG ratio is currently 0.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Transportation - Shipping industry currently had an average PEG ratio of 0.67 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.