The most recent trading session ended with Teekay Tankers (TNK) standing at $38.62, reflecting a -0.8% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.
Heading into today, shares of the oil and gas shipping company had lost 3.71% over the past month, outpacing the Transportation sector's loss of 7.7% and the S&P 500's loss of 7.03% in that time.
The investment community will be closely monitoring the performance of Teekay Tankers in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.34, reflecting a 65.28% decrease from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.74 per share and revenue of $662.04 million. These totals would mark changes of -34.63% and -9.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 5.4% lower. Teekay Tankers is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Teekay Tankers's current valuation metrics, including its Forward P/E ratio of 5.78. This denotes a discount relative to the industry's average Forward P/E of 9.33.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 206, this industry ranks in the bottom 18% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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