Yahoo Finance Teekay Tankers (TNK) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Teekay Tankers (TNK) standing at $65.32, reflecting a -0.44% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.77%. Elsewhere, the Dow saw an upswing of 0.49%, while the tech-heavy Nasdaq appreciated by 0.95%.
Heading into today, shares of the oil and gas shipping company had lost 8.66% over the past month, lagging the Transportation sector's loss of 5.79% and the S&P 500's gain of 3.71% in that time.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. In that report, analysts expect Teekay Tankers to post earnings of $3.25 per share. This would mark a year-over-year decline of 25.8%. At the same time, our most recent consensus estimate is projecting a revenue of $197.37 million, reflecting a 21.85% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.67 per share and a revenue of $867.54 million, signifying shifts of +1.38% and -2.53%, respectively, from the last year.
Any recent changes to analyst estimates for Teekay Tankers should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Teekay Tankers is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Teekay Tankers has a Forward P/E ratio of 4.47 right now. This expresses a discount compared to the average Forward P/E of 7.55 of its industry.
Also, we should mention that TNK has a PEG ratio of 1.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Transportation - Shipping industry held an average PEG ratio of 0.96.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
