Are Transportation Stocks Lagging EuroDry (EDRY) This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has EuroDry (EDRY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
EuroDry is a member of the Transportation sector. This group includes 133 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. EuroDry is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for EDRY's full-year earnings has moved 2.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, EDRY has returned 15.5% so far this year. In comparison, Transportation companies have returned an average of 2.7%. This means that EuroDry is outperforming the sector as a whole this year.
One other Transportation stock that has outperformed the sector so far this year is Golden Ocean Group (GOGL). The stock is up 31.9% year-to-date.
In Golden Ocean Group's case, the consensus EPS estimate for the current year increased 53.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, EuroDry belongs to the Transportation - Shipping industry, a group that includes 37 individual stocks and currently sits at #54 in the Zacks Industry Rank. On average, this group has gained an average of 7.8% so far this year, meaning that EDRY is performing better in terms of year-to-date returns. Golden Ocean Group is also part of the same industry.
Investors with an interest in Transportation stocks should continue to track EuroDry and Golden Ocean Group. These stocks will be looking to continue their solid performance.
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EuroDry (EDRY) : Free Stock Analysis Report
Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report
