Here's Why Teekay Tankers (TNK) Gained But Lagged the Market Today
The most recent trading session ended with Teekay Tankers (TNK) standing at $55.11, reflecting a +0.09% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.54%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.65%.
Coming into today, shares of the oil and gas shipping company had lost 3.72% in the past month. In that same time, the Transportation sector gained 4.24%, while the S&P 500 gained 4.86%.
The upcoming earnings release of Teekay Tankers will be of great interest to investors. The company's upcoming EPS is projected at $2.52, signifying a 14.03% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $162.53 million, indicating a 5.82% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.33 per share and revenue of $805.05 million. These totals would mark changes of -7.88% and -9.55%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Right now, Teekay Tankers possesses a Zacks Rank of #4 (Sell).
Looking at valuation, Teekay Tankers is presently trading at a Forward P/E ratio of 4.13. This represents a discount compared to its industry's average Forward P/E of 6.87.
Meanwhile, TNK's PEG ratio is currently 1.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Transportation - Shipping was holding an average PEG ratio of 0.72 at yesterday's closing price.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
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.
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 Ltd. (TNK) : Free Stock Analysis Report