For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Eagle Bulk Shipping (EGLE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Eagle Bulk Shipping is a member of our Transportation group, which includes 141 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Eagle Bulk Shipping is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for EGLE's full-year earnings has moved 11.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, EGLE has moved about 26.3% on a year-to-date basis. Meanwhile, stocks in the Transportation group have lost about 19.3% on average. This means that Eagle Bulk Shipping is outperforming the sector as a whole this year.
Another Transportation stock, which has outperformed the sector so far this year, is Firstgroup PLC Unsponsored ADR (FGROY). The stock has returned 19.9% year-to-date.
In Firstgroup PLC Unsponsored ADR's case, the consensus EPS estimate for the current year increased 900% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Eagle Bulk Shipping belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 20.5% so far this year, so EGLE is performing better in this area.
On the other hand, Firstgroup PLC Unsponsored ADR belongs to the Transportation - Services industry. This 30-stock industry is currently ranked #84. The industry has moved -20.3% year to date.
Investors with an interest in Transportation stocks should continue to track Eagle Bulk Shipping and Firstgroup PLC Unsponsored ADR. These stocks will be looking to continue their solid performance.