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Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
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In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $40.82, marking a +1.16% move from the previous day. The stock lagged the S&P 500's daily gain of 1.33%. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 2.94%.
Prior to today's trading, shares of the oil and gas shipping company had lost 4.86% over the past month. This has lagged the Transportation sector's gain of 0.85% and the S&P 500's gain of 6.11% in that time.
Teekay Tankers will be looking to display strength as it nears its next earnings release. On that day, Teekay Tankers is projected to report earnings of $4.21 per share, which would represent year-over-year growth of 1126.83%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.04 per share and revenue of $807.7 million. These totals would mark changes of +88.42% and +42.32%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 6.41% higher within the past month. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 3.35. For comparison, its industry has an average Forward P/E of 6.39, which means Teekay Tankers is trading at a discount to the group.
Also, we should mention that TNK has a PEG ratio of 1.12. 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. TNK's industry had an average PEG ratio of 1.12 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.
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Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
In the latest trading session, Teekay Tankers (TNK - Free Report) closed at $40.82, marking a +1.16% move from the previous day. The stock lagged the S&P 500's daily gain of 1.33%. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 2.94%.
Prior to today's trading, shares of the oil and gas shipping company had lost 4.86% over the past month. This has lagged the Transportation sector's gain of 0.85% and the S&P 500's gain of 6.11% in that time.
Teekay Tankers will be looking to display strength as it nears its next earnings release. On that day, Teekay Tankers is projected to report earnings of $4.21 per share, which would represent year-over-year growth of 1126.83%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.04 per share and revenue of $807.7 million. These totals would mark changes of +88.42% and +42.32%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 6.41% higher within the past month. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 3.35. For comparison, its industry has an average Forward P/E of 6.39, which means Teekay Tankers is trading at a discount to the group.
Also, we should mention that TNK has a PEG ratio of 1.12. 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. TNK's industry had an average PEG ratio of 1.12 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.