Teekay Tankers (TNK) Falls More Steeply Than Broader Market: What Investors Need to Know

Teekay Tankers (TNK) ended the recent trading session at $40.43, demonstrating a -1.03% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.01%. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq increased by 0.41%.Shares of the oil and gas shipping company have depreciated by 8.37% over the course of the past month, underperforming the Transportation sector's gain of 5.63% and the S&P 500's gain of 4.88%.Market participants will be closely following the financial results of Teekay Tankers in its upcoming release. The company's upcoming EPS is projected at $1.49, signifying a 48.08% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $158.26 million, showing a 18.62% drop compared to the year-ago quarter.It is also important to note the recent changes to analyst estimates for Teekay Tankers. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has shifted 6.56% downward. Teekay Tankers presently features a Zacks Rank of #5 (Strong Sell).Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 5.73. This valuation marks a discount compared to its industry's average Forward P/E of 8.57.One should further note that TNK currently holds a PEG ratio of 1.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Transportation - Shipping industry had an average PEG ratio of 1.41.The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 229, finds itself in the bottom 9% echelons 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Teekay Tankers Ltd. (TNK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks