Teekay Tankers (TNK) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Teekay Tankers (TNK) closed at $40.94, marking a -1.54% move from the previous day. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Coming into today, shares of the oil and gas shipping company had gained 7.66% in the past month. In that same time, the Transportation sector lost 3.64%, while the S&P 500 lost 3.02%.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. In that report, analysts expect Teekay Tankers to post earnings of $4.29 per share. This would mark year-over-year growth of 1146.34%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.32 per share and revenue of $758.78 million, which would represent changes of +77.15% and +33.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 53.22% higher. Teekay Tankers is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Teekay Tankers is holding a Forward P/E ratio of 3.67. Its industry sports an average Forward P/E of 5.55, 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 1.22. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TNK's industry had an average PEG ratio of 1.22 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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