Are Transportation Stocks Lagging Diana Shipping (DSX) This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Diana Shipping (DSX) 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.
Diana Shipping is a member of the Transportation sector. This group includes 133 individual stocks and currently holds a Zacks Sector Rank of #6. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Diana Shipping is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DSX's full-year earnings has moved 61.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DSX has moved about 4.4% on a year-to-date basis. In comparison, Transportation companies have returned an average of 2.9%. As we can see, Diana Shipping is performing better than its sector in the calendar year.
Another Transportation stock, which has outperformed the sector so far this year, is Euroseas Ltd. (ESEA). The stock has returned 27.2% year-to-date.
Over the past three months, Euroseas Ltd.'s consensus EPS estimate for the current year has increased 3.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Diana Shipping belongs to the Transportation - Shipping industry, a group that includes 37 individual stocks and currently sits at #61 in the Zacks Industry Rank. This group has gained an average of 8.7% so far this year, so DSX is slightly underperforming its industry in this area. Euroseas Ltd. is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Diana Shipping and Euroseas Ltd. as they could maintain their solid performance.
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Diana Shipping inc. (DSX) : Free Stock Analysis Report
Euroseas Ltd. (ESEA) : Free Stock Analysis Report
