Teekay Tankers (TNK) Gains But Lags Market: What You Should Know
Teekay Tankers (TNK) closed the most recent trading day at $43.40, moving +0.18% from the previous trading session. This move lagged the S&P 500's daily gain of 0.56%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 1.35%.
Coming into today, shares of the oil and gas shipping company had gained 2.36% in the past month. In that same time, the Transportation sector lost 4.21%, while the S&P 500 lost 1.48%.
Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. In that report, analysts expect Teekay Tankers to post earnings of $4.21 per share. This would mark year-over-year growth of 1126.83%.
TNK's full-year Zacks Consensus Estimates are calling for earnings of $12.04 per share and revenue of $807.7 million. These results would represent year-over-year changes of +88.42% and +42.32%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 63.03% higher. Teekay Tankers is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Teekay Tankers is holding a Forward P/E ratio of 3.6. This represents a discount compared to its industry's average Forward P/E of 6.03.
Meanwhile, TNK's PEG ratio is currently 1.2. 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 1.2 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
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