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Are Transportation Stocks Lagging Eagle Bulk Shipping (EGLE) This Year?

Zacks Equity Research
·2 min read

Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Eagle Bulk Shipping (EGLE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that 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 considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Eagle Bulk Shipping is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for EGLE's full-year earnings has moved 40% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that EGLE has returned about 40.2% since the start of the calendar year. In comparison, Transportation companies have returned an average of -12.2%. This means that Eagle Bulk Shipping is outperforming the sector as a whole this year.

One other Transportation stock that has outperformed the sector so far this year is Ardmore Shipping (ASC). The stock is up 113% year-to-date.

In Ardmore Shipping's case, the consensus EPS estimate for the current year increased 3933.3% 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, which includes 43 individual stocks and currently sits at #41 in the Zacks Industry Rank. This group has gained an average of 29% so far this year, so EGLE is performing better in this area. Ardmore Shipping is also part of the same industry.

Investors with an interest in Transportation stocks should continue to track Eagle Bulk Shipping and Ardmore Shipping. These stocks will be looking to continue their solid performance.


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Eagle Bulk Shipping Inc. (EGLE) : Free Stock Analysis Report
 
Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report
 
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Zacks Investment Research