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Strength Seen in GasLog Partners LP (GLOP): Can Its 7% Jump Turn into More Strength?
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GasLog Partners LP shares rallied 7% in the last trading session to close at $6.23. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.7% loss over the past four weeks.
The uptick was owing to the upward movement of LNG freight rates. Driven by the buoyant demand for gas in Europe due to its efforts to procure supply ahead of the winter, the freight rate to charter an LNG carrier in the Atlantic basin surged to a record high of $397,500 per day on Tuesday..
This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -20.6%. Revenues are expected to be $75.19 million, down 6.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GasLog Partners LP, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLOP going forward to see if this recent jump can turn into more strength down the road.
GasLog Partners LP belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Dorian LPG (LPG - Free Report) , closed the last trading session 0.1% higher at $14.29. Over the past month, LPG has returned -3.5%.
For Dorian LPG, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. This represents a change of +16% from what the company reported a year ago. Dorian LPG currently has a Zacks Rank of #3 (Hold).
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Strength Seen in GasLog Partners LP (GLOP): Can Its 7% Jump Turn into More Strength?
GasLog Partners LP shares rallied 7% in the last trading session to close at $6.23. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.7% loss over the past four weeks.
The uptick was owing to the upward movement of LNG freight rates. Driven by the buoyant demand for gas in Europe due to its efforts to procure supply ahead of the winter, the freight rate to charter an LNG carrier in the Atlantic basin surged to a record high of $397,500 per day on Tuesday..
This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -20.6%. Revenues are expected to be $75.19 million, down 6.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GasLog Partners LP, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLOP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GasLog Partners LP belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Dorian LPG (LPG - Free Report) , closed the last trading session 0.1% higher at $14.29. Over the past month, LPG has returned -3.5%.
For Dorian LPG, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. This represents a change of +16% from what the company reported a year ago. Dorian LPG currently has a Zacks Rank of #3 (Hold).