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Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
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In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $42.93, marking a +1.37% move from the previous day. This change lagged the S&P 500's 1.44% gain on the day. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 5.21%.
Prior to today's trading, shares of the oil and gas shipping company had lost 11.05% over the past month. This has lagged the Transportation sector's loss of 1.41% and the S&P 500's gain of 2.28% in that time.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. The company is expected to report EPS of $4.21, up 1126.83% from the prior-year quarter.
TNK's full-year Zacks Consensus Estimates are calling for earnings of $12.04 per share and revenue of $807.7 million. These results would represent year-over-year changes of +88.42% and +42.32%, respectively.
It is also important to note the 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 company's 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, 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 6.41% higher within the past month. Teekay Tankers is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Teekay Tankers is holding a Forward P/E ratio of 3.52. For comparison, its industry has an average Forward P/E of 5.95, which means Teekay Tankers is trading at a discount to the group.
We can also see that TNK currently has a PEG ratio of 1.17. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Shipping industry currently had an average PEG ratio of 1.17 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $42.93, marking a +1.37% move from the previous day. This change lagged the S&P 500's 1.44% gain on the day. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 5.21%.
Prior to today's trading, shares of the oil and gas shipping company had lost 11.05% over the past month. This has lagged the Transportation sector's loss of 1.41% and the S&P 500's gain of 2.28% in that time.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. The company is expected to report EPS of $4.21, up 1126.83% from the prior-year quarter.
TNK's full-year Zacks Consensus Estimates are calling for earnings of $12.04 per share and revenue of $807.7 million. These results would represent year-over-year changes of +88.42% and +42.32%, respectively.
It is also important to note the 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 company's 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, 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 6.41% higher within the past month. Teekay Tankers is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Teekay Tankers is holding a Forward P/E ratio of 3.52. For comparison, its industry has an average Forward P/E of 5.95, which means Teekay Tankers is trading at a discount to the group.
We can also see that TNK currently has a PEG ratio of 1.17. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Shipping industry currently had an average PEG ratio of 1.17 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.