Yahoo Finance Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
Teekay Tankers (TNK) closed the most recent trading day at $40.12, moving +0.83% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.96%. Meanwhile, the Dow gained 1.57%, and the Nasdaq, a tech-heavy index, lost 3.03%.
Prior to today's trading, shares of the oil and gas shipping company had lost 8.09% over the past month. This has lagged the Transportation sector's loss of 1.01% and the S&P 500's gain of 2.19% 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 might also notice recent changes 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.41% lower. Teekay Tankers is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 3.39. This represents a discount compared to its industry's average Forward P/E of 6.17.
We can also see that TNK currently has a PEG ratio of 1.13. 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. The Transportation - Shipping was holding an average PEG ratio of 1.13 at yesterday's closing price.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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
