The most recent trading session ended with Teekay Tankers (TNK) standing at $35.77, reflecting a -1.27% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 3.46%. On the other hand, the Dow registered a loss of 2.5%, and the technology-centric Nasdaq decreased by 4.31%.
Coming into today, shares of the oil and gas shipping company had lost 0.28% in the past month. In that same time, the Transportation sector lost 10%, while the S&P 500 lost 5.27%.
Investors will be eagerly watching for the performance of Teekay Tankers in its upcoming earnings disclosure. The company is expected to report EPS of $1.21, down 68.65% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.62 per share and a revenue of $662.04 million, signifying shifts of -35.79% and -9.44%, respectively, from the 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, 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.85% lower. Teekay Tankers is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Teekay Tankers is holding a Forward P/E ratio of 5.21. For comparison, its industry has an average Forward P/E of 7.66, which means Teekay Tankers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 35% 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.
To follow TNK in the coming trading sessions, be sure to utilize Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).
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