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Shipping Stocks' Aug 4 Earnings Roster: GLOG, TNK, TK
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So far, the Q2 earnings releases have failed to impress. Slow-paced economic growth coupled with a range of unfavorable events in the past few months have prompted the Fed to keep rates unchanged. As the earnings season progresses, some companies have shown a slight improvement. However, overall earnings data continue to remain unimpressive. As per the recent Earnings Trends article, over 60% of earnings reports are already in. Over 1000 companies, including 116 S&P 500 members, are scheduled to release results this week and by the end of it, nearly 87% of the index members will have reported the same Thus, with not much scope of improvement left, it is to be seen if company’s can pick up pace in the second half of 2016.
Shipping Stocks’ Earnings Performance
Shipping industry is part of the broader Transportation sector. In the second quarter, transportation stocks have posted an earnings beat of 64.3% but a year-over-year decline of 12.5%. Revenues also declined by 1.15% despite beating estimates by 42.9%. The shipping industry is going through one of its lowest growth seasons this year. Economic downturn in emerging economies coupled with low demand in the U.S. and Europe have played down the industry’s growth prospects. However, if demand picks pace, the industry may see an improved performance in the future.
Let’s take a look at three shipping stocks which are scheduled to report their quarterly results on Aug 4.
GasLog Ltd. operates under two segments – vessel ownership and management of Liquefied Natural Gas (LNG). This Zacks Rank #3 (Hold) company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 6 cents. According to our proven model, a company needs the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #3 or better – to increase the odds of an earnings surprise. Thus, GasLog is not likely to beat the Zacks Consensus Estimate.
Teekay Tankers Ltd. (TNK - Free Report) provides marine transportation of crude oil. The company carries a Zacks Rank #3 and an Earnings ESP of -4.76%. We note that the Most Accurate estimate stands at 20 cents while the Zacks Consensus Estimate is poised at 21 cents. Thus, Teekay Tankers is not expected to beat estimates in the second quarter.
Teekay Corporation (TK - Free Report) provides transportation services for crude oil and petroleum products worldwide. The company carries a Zacks Rank #3 and an Earnings ESP of -25%. Thus, Teekay Corporation doesn’t conclusively show that it is likely to beat the Zacks Consensus Estimate.
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Shipping Stocks' Aug 4 Earnings Roster: GLOG, TNK, TK
So far, the Q2 earnings releases have failed to impress. Slow-paced economic growth coupled with a range of unfavorable events in the past few months have prompted the Fed to keep rates unchanged. As the earnings season progresses, some companies have shown a slight improvement. However, overall earnings data continue to remain unimpressive. As per the recent Earnings Trends article, over 60% of earnings reports are already in. Over 1000 companies, including 116 S&P 500 members, are scheduled to release results this week and by the end of it, nearly 87% of the index members will have reported the same Thus, with not much scope of improvement left, it is to be seen if company’s can pick up pace in the second half of 2016.
Shipping Stocks’ Earnings Performance
Shipping industry is part of the broader Transportation sector. In the second quarter, transportation stocks have posted an earnings beat of 64.3% but a year-over-year decline of 12.5%. Revenues also declined by 1.15% despite beating estimates by 42.9%. The shipping industry is going through one of its lowest growth seasons this year. Economic downturn in emerging economies coupled with low demand in the U.S. and Europe have played down the industry’s growth prospects. However, if demand picks pace, the industry may see an improved performance in the future.
Let’s take a look at three shipping stocks which are scheduled to report their quarterly results on Aug 4.
GasLog Ltd. operates under two segments – vessel ownership and management of Liquefied Natural Gas (LNG). This Zacks Rank #3 (Hold) company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 6 cents. According to our proven model, a company needs the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #3 or better – to increase the odds of an earnings surprise. Thus, GasLog is not likely to beat the Zacks Consensus Estimate.
GASLOG LTD Price and EPS Surprise
GASLOG LTD Price and EPS Surprise | GASLOG LTD Quote
Teekay Tankers Ltd. (TNK - Free Report) provides marine transportation of crude oil. The company carries a Zacks Rank #3 and an Earnings ESP of -4.76%. We note that the Most Accurate estimate stands at 20 cents while the Zacks Consensus Estimate is poised at 21 cents. Thus, Teekay Tankers is not expected to beat estimates in the second quarter.
TEEKAY TANKERS Price and EPS Surprise
TEEKAY TANKERS Price and EPS Surprise | TEEKAY TANKERS Quote
Teekay Corporation (TK - Free Report) provides transportation services for crude oil and petroleum products worldwide. The company carries a Zacks Rank #3 and an Earnings ESP of -25%. Thus, Teekay Corporation doesn’t conclusively show that it is likely to beat the Zacks Consensus Estimate.
TEEKAY CORP Price and EPS Surprise
TEEKAY CORP Price and EPS Surprise | TEEKAY CORP Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>