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Teekay Tankers (TNK) Stock Moves -0.27%: What You Should Know

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The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $69.47, reflecting a -0.27% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.31% loss on the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq decreased by 1.09%.

Shares of the oil and gas shipping company witnessed a loss of 3.92% over the previous month, trailing the performance of the Transportation sector with its loss of 2.76% and the S&P 500's gain of 2.73%.

The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. On that day, Teekay Tankers is projected to report earnings of $3.25 per share, which would represent a year-over-year decline of 25.8%. Meanwhile, our latest consensus estimate is calling for revenue of $197.37 million, down 21.85% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $14.70 per share and a revenue of $867.54 million, demonstrating changes of +1.59% and -2.53%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Right now, Teekay Tankers possesses a Zacks Rank of #3 (Hold).

With respect to valuation, Teekay Tankers is currently being traded at a Forward P/E ratio of 4.74. This valuation marks a discount compared to its industry's average Forward P/E of 7.67.

It's also important to note that TNK currently trades at a PEG ratio of 1.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. TNK's industry had an average PEG ratio of 0.92 as of yesterday's close.

The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 31% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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