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) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Teekay Tankers (TNK - Free Report) closed at $56.11 in the latest trading session, marking a +0.61% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.15%.
The oil and gas shipping company's stock has climbed by 0.11% in the past month, falling short of the Transportation sector's gain of 3.79% and the S&P 500's gain of 2%.
Analysts and investors alike will be keeping a close eye on the performance of Teekay Tankers in its upcoming earnings disclosure. The company is expected to report EPS of $2.52, up 14.03% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $162.53 million, showing a 5.82% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.33 per share and revenue of $805.05 million. These totals would mark changes of -7.88% and -9.55%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Teekay Tankers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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 #4 (Sell) right now.
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 4.18. For comparison, its industry has an average Forward P/E of 7.09, which means Teekay Tankers is trading at a discount to the group.
It's also important to note that TNK currently trades at a PEG ratio of 1.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Transportation - Shipping industry was having an average PEG ratio of 0.77.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Teekay Tankers (TNK) Outpaces Stock Market Gains: What You Should Know
Teekay Tankers (TNK - Free Report) closed at $56.11 in the latest trading session, marking a +0.61% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.15%.
The oil and gas shipping company's stock has climbed by 0.11% in the past month, falling short of the Transportation sector's gain of 3.79% and the S&P 500's gain of 2%.
Analysts and investors alike will be keeping a close eye on the performance of Teekay Tankers in its upcoming earnings disclosure. The company is expected to report EPS of $2.52, up 14.03% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $162.53 million, showing a 5.82% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.33 per share and revenue of $805.05 million. These totals would mark changes of -7.88% and -9.55%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Teekay Tankers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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 #4 (Sell) right now.
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 4.18. For comparison, its industry has an average Forward P/E of 7.09, which means Teekay Tankers is trading at a discount to the group.
It's also important to note that TNK currently trades at a PEG ratio of 1.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Transportation - Shipping industry was having an average PEG ratio of 0.77.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.