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Teekay Tankers (TNK) Outpaces Stock Market Gains: What You Should Know

In the latest trading session, Teekay Tankers (TNK) closed at $40.49, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.83%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 4.46%.

Coming into today, shares of the oil and gas shipping company had lost 5.27% in the past month. In that same time, the Transportation sector lost 0.62%, while the S&P 500 gained 4.04%.

Investors will be hoping for strength from Teekay Tankers as it approaches 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%.

TNK's full-year Zacks Consensus Estimates are calling for earnings of $11.75 per share and revenue of $808.1 million. These results would represent year-over-year changes of +83.88% and +42.39%, respectively.

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It is also important to note the recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Teekay Tankers has a Forward P/E ratio of 3.41 right now. For comparison, its industry has an average Forward P/E of 6.18, which means Teekay Tankers is trading at a discount to the group.

Investors should also note that TNK has a PEG ratio of 1.14 right now. 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 Transportation - Shipping was holding an average PEG ratio of 1.14 at yesterday's closing price.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report

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Zacks Investment Research