We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $32.59, marking a +0.62% move from the previous day. This change lagged the S&P 500's 2.37% gain on the day. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the oil and gas shipping company had gained 4.55% in the past month. In that same time, the Transportation sector lost 6.82%, while the S&P 500 lost 4.82%.
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 $2 per share, which would represent year-over-year growth of 235.14%. Our most recent consensus estimate is calling for quarterly revenue of $154.19 million, up 310.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.98 per share and revenue of $475.74 million. These totals would mark changes of +172.86% and +109.35%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Teekay Tankers is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 10.87. This valuation marks a premium compared to its industry's average Forward P/E of 3.26.
Also, we should mention that TNK has a PEG ratio of 3.62. 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 industry currently had an average PEG ratio of 2.74 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $32.59, marking a +0.62% move from the previous day. This change lagged the S&P 500's 2.37% gain on the day. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the oil and gas shipping company had gained 4.55% in the past month. In that same time, the Transportation sector lost 6.82%, while the S&P 500 lost 4.82%.
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 $2 per share, which would represent year-over-year growth of 235.14%. Our most recent consensus estimate is calling for quarterly revenue of $154.19 million, up 310.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.98 per share and revenue of $475.74 million. These totals would mark changes of +172.86% and +109.35%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Teekay Tankers is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 10.87. This valuation marks a premium compared to its industry's average Forward P/E of 3.26.
Also, we should mention that TNK has a PEG ratio of 3.62. 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 industry currently had an average PEG ratio of 2.74 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.