In the latest trading session, Teekay Tankers (TNK) closed at $49.66, marking a -0.8% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, added 0.76%.

The oil and gas shipping company's stock has dropped by 11.1% in the past month, falling short of the Transportation sector's loss of 0.81% and the S&P 500's gain of 1.47%.

Analysts and investors alike will be keeping a close eye on the performance of Teekay Tankers in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2024. On that day, Teekay Tankers is projected to report earnings of $2.52 per share, which would represent year-over-year growth of 14.03%. Alongside, our most recent consensus estimate is anticipating revenue of $162.53 million, indicating a 5.82% downward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.33 per share and a revenue of $805.05 million, signifying shifts of -7.88% and -9.55%, respectively, from the last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Teekay Tankers holds a Zacks Rank of #4 (Sell).

Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 3.76. Its industry sports an average Forward P/E of 7.66, so one might conclude that Teekay Tankers is trading at a discount comparatively.

One should further note that TNK currently holds a PEG ratio of 1.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Shipping was holding an average PEG ratio of 0.75 at yesterday's closing price.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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