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Teekay Tankers (TNK) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $62.61, reflecting a -0.4% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 1.64%, while the tech-heavy Nasdaq appreciated by 1.03%.
The oil and gas shipping company's shares have seen a decrease of 10.94% over the last month, not keeping up with the Transportation sector's loss of 0.1% and the S&P 500's loss of 1.16%.
The upcoming earnings release of Teekay Tankers will be of great interest to investors. The company's earnings report is expected on August 1, 2024. The company is predicted to post an EPS of $3.24, indicating a 26.03% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $197.37 million, down 21.85% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.78 per share and a revenue of $867.54 million, representing changes of -4.77% and -2.53%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 6.23% fall in the Zacks Consensus EPS estimate. Currently, Teekay Tankers is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 4.56. This valuation marks a discount compared to its industry's average Forward P/E of 7.8.
We can also see that TNK currently has a PEG ratio of 1.52. 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. As the market closed yesterday, the Transportation - Shipping industry was having an average PEG ratio of 0.93.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Teekay Tankers (TNK) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Teekay Tankers (TNK - Free Report) standing at $62.61, reflecting a -0.4% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 1.64%, while the tech-heavy Nasdaq appreciated by 1.03%.
The oil and gas shipping company's shares have seen a decrease of 10.94% over the last month, not keeping up with the Transportation sector's loss of 0.1% and the S&P 500's loss of 1.16%.
The upcoming earnings release of Teekay Tankers will be of great interest to investors. The company's earnings report is expected on August 1, 2024. The company is predicted to post an EPS of $3.24, indicating a 26.03% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $197.37 million, down 21.85% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.78 per share and a revenue of $867.54 million, representing changes of -4.77% and -2.53%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 6.23% fall in the Zacks Consensus EPS estimate. Currently, Teekay Tankers is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Teekay Tankers is currently exchanging hands at a Forward P/E ratio of 4.56. This valuation marks a discount compared to its industry's average Forward P/E of 7.8.
We can also see that TNK currently has a PEG ratio of 1.52. 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. As the market closed yesterday, the Transportation - Shipping industry was having an average PEG ratio of 0.93.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.