Yahoo Finance Teekay Tankers (TNK) Gains As Market Dips: What You Should Know
Teekay Tankers (TNK) closed at $37.63 in the latest trading session, marking a +0.53% move from the prior day. This move outpaced the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the oil and gas shipping company had gained 28.94% over the past month, outpacing the Transportation sector's gain of 3.59% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from Teekay Tankers as it approaches its next earnings release. On that day, Teekay Tankers is projected to report earnings of $3.51 per share, which would represent year-over-year growth of 574.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $201.99 million, up 213.93% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. 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. 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. The Zacks Consensus EPS estimate has moved 47.29% lower within the past month. Teekay Tankers is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 5.07. This represents a discount compared to its industry's average Forward P/E of 6.6.
We can also see that TNK currently has a PEG ratio of 1.69. 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 1.69 based on yesterday's closing prices.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
