For its first fiscal quarter (ending March 31), Teekay Tankers Ltd (NYSE: TNK) has reported a -15% decline in E.P.S. from $4.97 a year ago to $4.23 in the current quarter. However, this result exceeded the consensus estimate of $3.86 by $0.38. For the latest four quarters through March 31, E.P.S. were $14.31 compared to $12.11 a year ago — an increase of 18%.
Recent Price Action
Teekay Tankers Ltd (NYSE: TNK) stock closed at $69.30 on 5/9/24 after a very large increase of 9.1%. Moreover, exceptionally high trading volume at 230% of normal accompanied the advance. The stock has been exceptionally strong relative to the market over the last nine months and has risen 20.3% during the last week.
Current PriceTarget Research Rating
TNK’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Teekay Tankers has a current Value Trend Rating of A (Highest Rating). This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. Teekay Tankers has a very high Appreciation Score of 87 and a very high Power Rating of 98, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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