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The most recent trading session ended with Teekay Tankers (TNK) standing at $41.92, reflecting a -1.11% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.28%.
The oil and gas shipping company's stock has climbed by 2.76% in the past month, falling short of the Transportation sector's gain of 5.35% and the S&P 500's gain of 2.87%.
Market participants will be closely following the financial results of Teekay Tankers in its upcoming release. The company's earnings per share (EPS) are projected to be $1.49, reflecting a 48.08% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $158.26 million, indicating a 18.62% decrease compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Teekay Tankers. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.56% decrease. As of now, Teekay Tankers holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Teekay Tankers is currently being traded at a Forward P/E ratio of 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 8.65.
We can additionally observe that TNK currently boasts a PEG ratio of 1.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Transportation - Shipping industry had an average PEG ratio of 1.27.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 248, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.