In the latest trading session, Teekay Tankers (TNK) closed at $36.83, marking a -1.42% move from the previous day. This change lagged the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, added 1.39%.
Prior to today's trading, shares of the oil and gas shipping company had lost 7.11% over the past month. This has lagged the Transportation sector's loss of 1.84% and the S&P 500's loss of 0.68% in that time.
Teekay Tankers will be looking to display strength as it nears its next earnings release. In that report, analysts expect Teekay Tankers to post earnings of $3.65 per share. This would mark year-over-year growth of 990.24%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.75 per share and revenue of $808.1 million. These totals would mark changes of +83.88% and +42.39%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.41% lower within the past month. Teekay Tankers is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 3.18. Its industry sports an average Forward P/E of 5.88, so we one might conclude that Teekay Tankers is trading at a discount comparatively.
We can also see that TNK currently has a PEG ratio of 1.06. 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. Transportation - Shipping stocks are, on average, holding a PEG ratio of 1.06 based on yesterday's closing prices.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.
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