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Teekay Tankers (TNK) Laps the Stock Market: Here's Why
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Teekay Tankers (TNK - Free Report) ended the recent trading session at $55.42, demonstrating a +1.86% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.79%, and the tech-heavy Nasdaq gained 0.28%.
The the stock of oil and gas shipping company has fallen by 3.1% in the past month, lagging the Transportation sector's gain of 2.33% and the S&P 500's gain of 3.48%.
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. Meanwhile, the latest consensus estimate predicts the revenue to be $162.53 million, indicating a 5.82% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.33 per share and a revenue of $805.05 million, indicating changes of -7.88% and -9.55%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 currently a Zacks Rank #3 (Hold).
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 4.08. For comparison, its industry has an average Forward P/E of 7.84, which means Teekay Tankers is trading at a discount to the group.
One should further note that TNK currently holds a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Transportation - Shipping industry stood at 0.75 at the close of the market yesterday.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Teekay Tankers (TNK) Laps the Stock Market: Here's Why
Teekay Tankers (TNK - Free Report) ended the recent trading session at $55.42, demonstrating a +1.86% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.79%, and the tech-heavy Nasdaq gained 0.28%.
The the stock of oil and gas shipping company has fallen by 3.1% in the past month, lagging the Transportation sector's gain of 2.33% and the S&P 500's gain of 3.48%.
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. Meanwhile, the latest consensus estimate predicts the revenue to be $162.53 million, indicating a 5.82% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.33 per share and a revenue of $805.05 million, indicating changes of -7.88% and -9.55%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 currently a Zacks Rank #3 (Hold).
In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 4.08. For comparison, its industry has an average Forward P/E of 7.84, which means Teekay Tankers is trading at a discount to the group.
One should further note that TNK currently holds a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Transportation - Shipping industry stood at 0.75 at the close of the market yesterday.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.