Teekay Tankers (TNK) closed at $39.91 within the newest buying and selling session, marking a -0.03% transfer from the prior day. The inventory trailed the S&P 500, which registered a each day acquire of 0.55%. In the meantime, the Dow skilled a drop of 0.06%, and the technology-dominated Nasdaq noticed a rise of 1.24%.
The upcoming earnings launch of Teekay Tankers can be of nice curiosity to traders. The corporate is forecasted to report an EPS of $1.81, showcasing a 36.93% downward motion from the corresponding quarter of the prior yr. In the meantime, the Zacks Consensus Estimate for income is projecting internet gross sales of $158.26 million, down 18.62% from the year-ago interval.
Traders may additionally discover latest adjustments to analyst estimates for Teekay Tankers. These revisions sometimes mirror the most recent short-term enterprise traits, which may change regularly. Therefore, optimistic alterations in estimates signify analyst optimism concerning the corporate’s enterprise and profitability.
Our analysis reveals that these estimate adjustments are instantly correlated with near-term inventory costs. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate adjustments into consideration and delivers a transparent, actionable ranking mannequin.
The Zacks Rank system, starting from #1 (Sturdy Purchase) to #5 (Sturdy Promote), possesses a exceptional historical past of outdoing, externally audited, with #1 shares returning a mean annual acquire of +25% since 1988. Over the previous month, the Zacks Consensus EPS estimate has shifted 26.22% downward. Teekay Tankers is holding a Zacks Rank of #5 (Sturdy Promote) proper now.
By way of valuation, Teekay Tankers is presently being traded at a Ahead P/E ratio of 5.24. This denotes a reduction relative to the trade’s common Ahead P/E of 6.9.
One ought to additional observe that TNK at the moment holds a PEG ratio of 1.75. The PEG ratio is much like the widely-used P/E ratio, however this metric additionally takes the corporate’s anticipated earnings progress fee into consideration. The Transportation – Delivery trade had a mean PEG ratio of 0.52 as buying and selling concluded yesterday.
The Transportation – Delivery trade is a part of the Transportation sector. This trade at the moment has a Zacks Business Rank of 233, which places it within the backside 8% of all 250+ industries.
The Zacks Business Rank is ordered from finest to worst when it comes to the common Zacks Rank of the person firms inside every of those sectors. Our analysis reveals that the highest 50% rated industries outperform the underside half by an element of two to 1.
Do not forget to make use of Zacks.com to maintain observe of all these stock-moving metrics, and others, within the upcoming buying and selling classes.
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Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
