In the latest trading session, Teekay Tankers (TNK) closed at $43.43, marking a -1.18% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.4% for the day. Elsewhere, the Dow saw a downswing of 0.98%, while the tech-heavy Nasdaq appreciated by 0.18%.
Coming into today, shares of the oil and gas shipping company had lost 4.23% in the past month. In that same time, the Transportation sector gained 4.86%, while the S&P 500 gained 4.97%.
The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. The company is expected to report EPS of $1.35, down 56.17% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $172.46 million, indicating a 12.23% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.09 per share and a revenue of $646.53 million, signifying shifts of -40.93% and -11.56%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.88% lower. As of now, Teekay Tankers holds a Zacks Rank of #3 (Hold).
In the context of valuation, Teekay Tankers is at present trading with a Forward P/E ratio of 7.22. For comparison, its industry has an average Forward P/E of 9, which means Teekay Tankers is trading at a discount to the group.
The Transportation – Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 29, positioning it in the top 12% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
