Has Star Bulk Carriers (SBLK) Outpaced Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Star Bulk Carriers (SBLK) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Star Bulk Carriers is one of 141 companies in the Transportation group. The Transportation group currently sits at #3 within 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 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. Star Bulk Carriers is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SBLK's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SBLK has moved about 44.6% on a year-to-date basis. In comparison, Transportation companies have returned an average of -15%. This means that Star Bulk Carriers is performing better than its sector in terms of year-to-date returns.
One other Transportation stock that has outperformed the sector so far this year is ZIM Integrated Shipping Services (ZIM). The stock is up 18.7% year-to-date.
In ZIM Integrated Shipping Services' case, the consensus EPS estimate for the current year increased 31.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Star Bulk Carriers belongs to the Transportation - Shipping industry, a group that includes 43 individual companies and currently sits at #25 in the Zacks Industry Rank. This group has gained an average of 37.3% so far this year, so SBLK is performing better in this area. ZIM Integrated Shipping Services is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Star Bulk Carriers and ZIM Integrated Shipping Services as they could maintain their solid performance.
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