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) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
Teekay Tankers (TNK - Free Report) closed at $54.40 in the latest trading session, marking a -2.79% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Meanwhile, the Dow lost 0.27%, and the Nasdaq, a tech-heavy index, lost 0.07%.
The oil and gas shipping company's stock has climbed by 24.36% in the past month, exceeding the Transportation sector's loss of 0.76% and the S&P 500's gain of 2.71%.
Market participants will be closely following the financial results of Teekay Tankers in its upcoming release. In that report, analysts expect Teekay Tankers to post earnings of $1.1 per share. This would mark a year-over-year decline of 39.89%. In the meantime, our current consensus estimate forecasts the revenue to be $132.3 million, indicating a 11.38% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.61 per share and revenue of $600.77 million, indicating changes of -45.59% and -17.82%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Teekay Tankers is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Teekay Tankers is at present trading with a Forward P/E ratio of 9.98. For comparison, its industry has an average Forward P/E of 11.34, which means Teekay Tankers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 167, positioning it in the bottom 33% of all 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Teekay Tankers (TNK) Suffers a Larger Drop Than the General Market: Key Insights
Teekay Tankers (TNK - Free Report) closed at $54.40 in the latest trading session, marking a -2.79% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Meanwhile, the Dow lost 0.27%, and the Nasdaq, a tech-heavy index, lost 0.07%.
The oil and gas shipping company's stock has climbed by 24.36% in the past month, exceeding the Transportation sector's loss of 0.76% and the S&P 500's gain of 2.71%.
Market participants will be closely following the financial results of Teekay Tankers in its upcoming release. In that report, analysts expect Teekay Tankers to post earnings of $1.1 per share. This would mark a year-over-year decline of 39.89%. In the meantime, our current consensus estimate forecasts the revenue to be $132.3 million, indicating a 11.38% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.61 per share and revenue of $600.77 million, indicating changes of -45.59% and -17.82%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Teekay Tankers is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Teekay Tankers is at present trading with a Forward P/E ratio of 9.98. For comparison, its industry has an average Forward P/E of 11.34, which means Teekay Tankers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 167, positioning it in the bottom 33% of all 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.