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Teekay Tankers (TNK) Stock Moves -0.23%: What You Should Know

In the latest trading session, Teekay Tankers (TNK) closed at $34.41, marking a -0.23% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 2.13%.

Coming into today, shares of the oil and gas shipping company had gained 23.84% in the past month. In that same time, the Transportation sector gained 7.86%, while the S&P 500 gained 7%.

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 $3.51 per share. This would mark year-over-year growth of 574.32%. Meanwhile, our latest consensus estimate is calling for revenue of $201.99 million, up 213.93% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 45.64% lower. Teekay Tankers is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 4.67. This represents a discount compared to its industry's average Forward P/E of 6.29.

It is also worth noting that TNK currently has a PEG ratio of 1.56. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Shipping was holding an average PEG ratio of 1.56 at yesterday's closing price.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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

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