For its third fiscal quarter (ending September 30), Teekay Tankers Ltd (NYSE: TNK) has reported a 19% increase in E.P.S. from $2.00 a year ago to $2.38 in the current quarter. Relative to the consensus estimate of $2.10, this was a premium of $0.28. For the latest four quarters through September 30, E.P.S. were $16.07 compared to $1.26 a year ago — an increase of 1175%.
Recent Price Action
On 11/2/23, Teekay Tankers Ltd (NYSE: TNK) stock rose modestly by 1.0%, closing at $51.92. The stock has risen 9.6% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, TNK is expected to continue to be a major Value Builder.
Teekay Tankers has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Teekay Tankers has a good Appreciation Score of 77 and a good Power Rating of 79, with the Highest Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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