We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Teekay Tankers (TNK) Falls More Steeply Than Broader Market: What Investors Need to Know
Read MoreHide Full Article
The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $41.92, reflecting a -1.11% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.28%.
The oil and gas shipping company's stock has climbed by 2.76% in the past month, falling short of the Transportation sector's gain of 5.35% and the S&P 500's gain of 2.87%.
Market participants will be closely following the financial results of Teekay Tankers in its upcoming release. The company's earnings per share (EPS) are projected to be $1.49, reflecting a 48.08% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $158.26 million, indicating a 18.62% decrease compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.56% decrease. As of now, Teekay Tankers holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Teekay Tankers is currently being traded at a Forward P/E ratio of 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 8.65.
We can additionally observe that TNK currently boasts a PEG ratio of 1.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Transportation - Shipping industry had an average PEG ratio of 1.27.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 248, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Teekay Tankers (TNK) Falls More Steeply Than Broader Market: What Investors Need to Know
The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $41.92, reflecting a -1.11% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.28%.
The oil and gas shipping company's stock has climbed by 2.76% in the past month, falling short of the Transportation sector's gain of 5.35% and the S&P 500's gain of 2.87%.
Market participants will be closely following the financial results of Teekay Tankers in its upcoming release. The company's earnings per share (EPS) are projected to be $1.49, reflecting a 48.08% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $158.26 million, indicating a 18.62% decrease compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.56% decrease. As of now, Teekay Tankers holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Teekay Tankers is currently being traded at a Forward P/E ratio of 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 8.65.
We can additionally observe that TNK currently boasts a PEG ratio of 1.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Transportation - Shipping industry had an average PEG ratio of 1.27.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 248, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.