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Why the Market Dipped But Teekay Tankers (TNK) Gained Today
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The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $62.11, reflecting a +1.62% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The oil and gas shipping company's stock has climbed by 14.46% in the past month, exceeding the Transportation sector's gain of 1.13% and the S&P 500's gain of 4.3%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. The company is forecasted to report an EPS of $2.52, showcasing a 14.03% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $162.53 million, down 5.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.33 per share and revenue of $805.05 million, which would represent changes of -7.88% and -9.55%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Teekay Tankers possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 4.59. This indicates a discount in contrast to its industry's Forward P/E of 8.13.
Investors should also note that TNK has a PEG ratio of 1.53 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Transportation - Shipping industry stood at 0.76 at the close of the market yesterday.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But Teekay Tankers (TNK) Gained Today
The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $62.11, reflecting a +1.62% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The oil and gas shipping company's stock has climbed by 14.46% in the past month, exceeding the Transportation sector's gain of 1.13% and the S&P 500's gain of 4.3%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. The company is forecasted to report an EPS of $2.52, showcasing a 14.03% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $162.53 million, down 5.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.33 per share and revenue of $805.05 million, which would represent changes of -7.88% and -9.55%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Teekay Tankers possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 4.59. This indicates a discount in contrast to its industry's Forward P/E of 8.13.
Investors should also note that TNK has a PEG ratio of 1.53 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Transportation - Shipping industry stood at 0.76 at the close of the market yesterday.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.