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Teekay Tankers (TNK) Gains As Market Dips: What You Should Know
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In the latest market close, Teekay Tankers (TNK - Free Report) reached $65.93, with a +0.47% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.06%.
The the stock of oil and gas shipping company has fallen by 5.54% in the past month, lagging the Transportation sector's gain of 2.05% and the S&P 500's gain of 1.96%.
Investors will be eagerly watching for the performance of Teekay Tankers in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $3.25, marking a 25.8% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $197.37 million, down 21.85% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.70 per share and a revenue of $867.54 million, indicating changes of +1.59% and -2.53%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 remained stagnant within the past month. Teekay Tankers is currently a Zacks Rank #2 (Buy).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 4.47. This expresses a discount compared to the average Forward P/E of 7.49 of its industry.
It is also worth noting that TNK currently has a PEG ratio of 1.49. 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 0.86 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Teekay Tankers (TNK) Gains As Market Dips: What You Should Know
In the latest market close, Teekay Tankers (TNK - Free Report) reached $65.93, with a +0.47% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.06%.
The the stock of oil and gas shipping company has fallen by 5.54% in the past month, lagging the Transportation sector's gain of 2.05% and the S&P 500's gain of 1.96%.
Investors will be eagerly watching for the performance of Teekay Tankers in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $3.25, marking a 25.8% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $197.37 million, down 21.85% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.70 per share and a revenue of $867.54 million, indicating changes of +1.59% and -2.53%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 remained stagnant within the past month. Teekay Tankers is currently a Zacks Rank #2 (Buy).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 4.47. This expresses a discount compared to the average Forward P/E of 7.49 of its industry.
It is also worth noting that TNK currently has a PEG ratio of 1.49. 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 0.86 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.