Teekay Tankers (TNK) closed at $39.74 in the latest trading session, marking a +0.61% move from the prior day. This move lagged the S&P 500's daily gain of 0.92%. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.03%.
The the stock of oil and gas shipping company has risen by 1.65% in the past month, lagging the Transportation sector's gain of 5.3% and overreaching the S&P 500's gain of 0.81%.
The investment community will be closely monitoring the performance of Teekay Tankers in its forthcoming earnings report. On that day, Teekay Tankers is projected to report earnings of $1.67 per share, which would represent a year-over-year decline of 41.81%. Alongside, our most recent consensus estimate is anticipating revenue of $158.26 million, indicating a 18.62% downward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Teekay Tankers. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.26% lower within the past month. Teekay Tankers presently features a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Teekay Tankers is currently trading at a Forward P/E ratio of 5.41. This indicates a discount in contrast to its industry's Forward P/E of 7.9.
One should further note that TNK currently holds a PEG ratio of 1.8. 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. TNK's industry had an average PEG ratio of 1.17 as of yesterday's close.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 240, this industry ranks in the bottom 5% 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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