Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Eagle Bulk Shipping 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? Let's take a closer look at the stock's year-to-date performance to find out.
Eagle Bulk Shipping is a member of our Transportation group, which includes 144 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Eagle Bulk Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EGLE's full-year earnings has moved 11.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, EGLE has gained about 0.8% so far this year. Meanwhile, stocks in the Transportation group have lost about 17.1% 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 USA Truck . The stock has returned 56.1% year-to-date.
For USA Truck, the consensus EPS estimate for the current year has increased 25.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Eagle Bulk Shipping belongs to the Transportation - Shipping industry, a group that includes 46 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 12.4% so far this year, meaning that EGLE is slightly underperforming its industry in terms of year-to-date returns.
In contrast, USA Truck falls under the Transportation - Truck industry. Currently, this industry has 13 stocks and is ranked #24. Since the beginning of the year, the industry has moved -25.6%.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Eagle Bulk Shipping and USA Truck as they could maintain their solid performance.
Image: Bigstock
Is Eagle Bulk Shipping (EGLE) Outperforming Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Eagle Bulk Shipping 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? Let's take a closer look at the stock's year-to-date performance to find out.
Eagle Bulk Shipping is a member of our Transportation group, which includes 144 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Eagle Bulk Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EGLE's full-year earnings has moved 11.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, EGLE has gained about 0.8% so far this year. Meanwhile, stocks in the Transportation group have lost about 17.1% 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 USA Truck . The stock has returned 56.1% year-to-date.
For USA Truck, the consensus EPS estimate for the current year has increased 25.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Eagle Bulk Shipping belongs to the Transportation - Shipping industry, a group that includes 46 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 12.4% so far this year, meaning that EGLE is slightly underperforming its industry in terms of year-to-date returns.
In contrast, USA Truck falls under the Transportation - Truck industry. Currently, this industry has 13 stocks and is ranked #24. Since the beginning of the year, the industry has moved -25.6%.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Eagle Bulk Shipping and USA Truck as they could maintain their solid performance.