Teekay Tankers (TNK) Suffers a Larger Drop Than the General Market: Key Insights

Teekay Tankers (TNK) ended the recent trading session at $41.70, demonstrating a -1.56% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.95%. On the other hand, the Dow registered a loss of 0.99%, and the technology-centric Nasdaq decreased by 1.36%.Prior to today's trading, shares of the oil and gas shipping company had gained 0.59% over the past month. This has lagged the Transportation sector's gain of 4.51% and the S&P 500's gain of 1.86% in that time.Analysts and investors alike will be keeping a close eye on the performance of Teekay Tankers in its upcoming earnings disclosure. In that report, analysts expect Teekay Tankers to post earnings of $1.49 per share. This would mark a year-over-year decline of 48.08%. Meanwhile, our latest consensus estimate is calling for revenue of $158.26 million, down 18.62% from the prior-year quarter.Investors should also take note of any recent adjustments to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 6.56% lower within the past month. As of now, Teekay Tankers holds a Zacks Rank of #5 (Strong Sell).In terms of valuation, Teekay Tankers is presently being traded at a Forward P/E ratio of 5.95. This signifies a discount in comparison to the average Forward P/E of 9.03 for its industry.Also, we should mention that TNK has a PEG ratio of 1.98. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Transportation - Shipping industry was having an average PEG ratio of 1.44.The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 6% 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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