Teekay Tankers (TNK) closed at $29.37 in the latest trading session, marking a -1.14% move from the prior day. This change was narrower than the S&P 500's 1.3% loss on the day. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 5.51%.

Prior to today's trading, shares of the oil and gas shipping company had lost 3.57% over the past month. This has lagged the Transportation sector's gain of 3.56% and the S&P 500's gain of 6.41% in that time.

Wall Street will be looking for positivity from Teekay Tankers as it approaches its next earnings report date. The company is expected to report EPS of $5.12, up 791.89% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $201.99 million, up 213.93% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Teekay Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.02% higher within the past month. Teekay Tankers is holding a Zacks Rank of #1 (Strong Buy) right now.

Digging into valuation, Teekay Tankers currently has a Forward P/E ratio of 2.14. This represents a discount compared to its industry's average Forward P/E of 5.01.

It is also worth noting that TNK currently has a PEG ratio of 0.71. 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. Transportation - Shipping stocks are, on average, holding a PEG ratio of 0.71 based on yesterday's closing prices.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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