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Teekay Tankers (TNK) Outperforms Broader Market: What You Need to Know
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Teekay Tankers (TNK - Free Report) ended the recent trading session at $53.49, demonstrating a +2.94% change from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.62%. Elsewhere, the Dow saw an upswing of 0.99%, while the tech-heavy Nasdaq appreciated by 0.65%.
The oil and gas shipping company's shares have seen a decrease of 6.09% over the last month, not keeping up with the Transportation sector's gain of 2.31% and the S&P 500's gain of 0.59%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. It is anticipated that the company will report an EPS of $1.96, marking a 30.67% rise compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.1 per share and a revenue of $0 million, signifying shifts of -40.83% and 0%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. Teekay Tankers is currently a Zacks Rank #3 (Hold).
In the context of valuation, Teekay Tankers is at present trading with a Forward P/E ratio of 10.29. This expresses a premium compared to the average Forward P/E of 10.17 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 33% of all industries, numbering over 250.
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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Teekay Tankers (TNK) Outperforms Broader Market: What You Need to Know
Teekay Tankers (TNK - Free Report) ended the recent trading session at $53.49, demonstrating a +2.94% change from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.62%. Elsewhere, the Dow saw an upswing of 0.99%, while the tech-heavy Nasdaq appreciated by 0.65%.
The oil and gas shipping company's shares have seen a decrease of 6.09% over the last month, not keeping up with the Transportation sector's gain of 2.31% and the S&P 500's gain of 0.59%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. It is anticipated that the company will report an EPS of $1.96, marking a 30.67% rise compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.1 per share and a revenue of $0 million, signifying shifts of -40.83% and 0%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. Teekay Tankers is currently a Zacks Rank #3 (Hold).
In the context of valuation, Teekay Tankers is at present trading with a Forward P/E ratio of 10.29. This expresses a premium compared to the average Forward P/E of 10.17 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 33% of all industries, numbering over 250.
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.