TNK - Teekay Tankers: Big Cash Flow A Strong Balance Sheet And A Powerful Uptrend

2024-06-13 13:15:32 ET

Summary

• Global transport stocks have outperformed the S&P 500, with the US Global Sea to Sky Cargo ETF up 36% YoY.
• Teekay Tankers leads the performance with its strong balance sheet, EPS growth, debt-free status, and a recent special dividend.
• While EPS may top out here, TNK sports strong free cash flow, solid valuation multiples, and technical chart support suggesting continued upside.

It’s hard to find niches of the global stock market that have outperformed the stout 1-year return on the S&P 500. While large-cap US equities, as measured by the S&P 500 Trust ETF (SPY) are up 27% from year-ago levels, one transportation-focused fund is higher by 36% with dividends included. ...

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