Teekay Tankers (TNK) Stock Falls Amid Market Uptick: What Investors Need to Know

Teekay Tankers (TNK) ended the recent trading session at $42.11, demonstrating a -1.31% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.06%.Shares of the oil and gas shipping company witnessed a gain of 9.43% over the previous month, beating the performance of the Transportation sector with its loss of 5.71% and the S&P 500's loss of 2.7%.Analysts and investors alike will be keeping a close eye on the performance of Teekay Tankers in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.81, signifying a 36.93% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $158.26 million, indicating a 18.62% decline compared to the corresponding quarter of the prior year.It is also important to note the recent changes to analyst estimates for Teekay Tankers. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 26.22% lower within the past month. As of now, Teekay Tankers holds a Zacks Rank of #5 (Strong Sell).In the context of valuation, Teekay Tankers is at present trading with a Forward P/E ratio of 5.52. For comparison, its industry has an average Forward P/E of 7.11, which means Teekay Tankers is trading at a discount to the group.Meanwhile, TNK's PEG ratio is currently 1.84. 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. As the market closed yesterday, the Transportation - Shipping industry was having an average PEG ratio of 0.52.The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 241, this industry ranks in the bottom 4% of all industries, numbering over 250.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.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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