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Teekay Tankers (TNK) Stock Dips While Market Gains: Key Facts
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In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $59.81, marking a -2.62% move from the previous day. This change lagged the S&P 500's daily gain of 0.26%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.25%.
Prior to today's trading, shares of the oil and gas shipping company had gained 12.72% outpaced the Transportation sector's gain of 0.81% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Teekay Tankers in its forthcoming earnings report. The company's upcoming EPS is projected at $1.96, signifying a 30.67% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.1 per share and a revenue of $0 million, representing changes of -40.83% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 12.16. For comparison, its industry has an average Forward P/E of 12.16, which means Teekay Tankers is trading at no noticeable deviation to the group.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Teekay Tankers (TNK) Stock Dips While Market Gains: Key Facts
In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $59.81, marking a -2.62% move from the previous day. This change lagged the S&P 500's daily gain of 0.26%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.25%.
Prior to today's trading, shares of the oil and gas shipping company had gained 12.72% outpaced the Transportation sector's gain of 0.81% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Teekay Tankers in its forthcoming earnings report. The company's upcoming EPS is projected at $1.96, signifying a 30.67% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.1 per share and a revenue of $0 million, representing changes of -40.83% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 12.16. For comparison, its industry has an average Forward P/E of 12.16, which means Teekay Tankers is trading at no noticeable deviation to the group.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.