Teekay Tankers (TNK) Exceeds Market Returns: Some Facts to Consider

Teekay Tankers (TNK) closed the latest trading day at $42.89, indicating a +1.54% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 0.55%.The oil and gas shipping company's stock has climbed by 10.37% in the past month, exceeding the Transportation sector's loss of 6.4% and the S&P 500's loss of 0.84%.The investment community will be paying close attention to the earnings performance of Teekay Tankers in its upcoming release. The company's earnings per share (EPS) are projected to be $1.53, reflecting a 60.36% decrease from the same quarter last year.For the full year, the Zacks Consensus Estimates are projecting earnings of $6.38 per share and revenue of $662.04 million, which would represent changes of -38.12% and -9.44%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for Teekay Tankers. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 5.34% lower within the past month. Teekay Tankers is currently a Zacks Rank #4 (Sell).Investors should also note Teekay Tankers's current valuation metrics, including its Forward P/E ratio of 6.62. This denotes a discount relative to the industry's average Forward P/E of 9.34.The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 230, positioning it in the bottom 8% 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks