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Here's Why You Should Add Euroseas Stock to Your Portfolio Now
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Euroseas (ESEA - Free Report) is an owner and operator of container carrier vessels and a provider of seaborne transportation for containerized cargoes. The company has been benefiting from profitable contracts and maintains a time charter equivalent rate or TCE of more than $30,000 per day. Due to the tailwinds, ESEA’s shares have performed impressively on the bourse. If you have not taken advantage of ESEA’s share price appreciation yet, it’s time to do so.
Factors Favoring ESEA Stock
Robust Price Performance: Its shares have surged 55.2% year to date, surpassing the industry’s 23.7% growth.
Year to Date Price Performance
Image Source: Zacks Investment Research
Northward Estimate Revisions: The Zacks Consensus Estimate for earnings per share for the current quarter improved 24.5% in the past 60 days. For the current year, the consensus mark for earnings per share has moved 36.5% north at the same time. The favorable estimate revisions indicate brokers’ confidence in the stock.
Solid Zacks Rank: ESEA currently sports a Zacks Rank #1 (Strong Buy).
Bullish Industry Rank: The industry to which Euroseas belongs currently has a Zacks Industry Rank of 93 (out of 252). Such a favorable rank places it in the top 37% of Zacks industries. Studies have shown that 50% of a stock price movement is directly related to the performance of the industry group it belongs to.
A mediocre stock within a strong group is likely to outclass a robust stock in a weak industry. Therefore, reckoning the industry’s performance becomes imperative.
Growth Drivers: The shipping company is being aided by the increased time charter rates earned by the company’s vessels. The increase in the average number of vessels owned and operated currently is also aiding results.
The Red Sea crisis is pushing up ocean freight rates, which is supporting ESEA. In August, the board declared a quarterly dividend of 60 cents per share ($2.40 annualized). ESEA’s shareholder-friendly approach throws light on its financial prosperity. The shipping company’s high dividend yield is a huge positive for income-seeking investors. This highlights confidence in its cash flow and prospects.
CHRW has an expected earnings growth rate of 25.2% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 7.3%. Shares of CHRW have risen 45.3% in the past six months.
ATSG carries a Zacks Rank #2 (Buy) at present and has an expected earnings growth rate of 12% for the current year. The company has a mixed track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missing twice. The average miss is 7.7%. Shares of ATSG have climbed 9.7% in the past six months.
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Here's Why You Should Add Euroseas Stock to Your Portfolio Now
Euroseas (ESEA - Free Report) is an owner and operator of container carrier vessels and a provider of seaborne transportation for containerized cargoes. The company has been benefiting from profitable contracts and maintains a time charter equivalent rate or TCE of more than $30,000 per day. Due to the tailwinds, ESEA’s shares have performed impressively on the bourse. If you have not taken advantage of ESEA’s share price appreciation yet, it’s time to do so.
Factors Favoring ESEA Stock
Robust Price Performance: Its shares have surged 55.2% year to date, surpassing the industry’s 23.7% growth.
Year to Date Price Performance
Northward Estimate Revisions: The Zacks Consensus Estimate for earnings per share for the current quarter improved 24.5% in the past 60 days. For the current year, the consensus mark for earnings per share has moved 36.5% north at the same time. The favorable estimate revisions indicate brokers’ confidence in the stock.
Solid Zacks Rank: ESEA currently sports a Zacks Rank #1 (Strong Buy).
Bullish Industry Rank: The industry to which Euroseas belongs currently has a Zacks Industry Rank of 93 (out of 252). Such a favorable rank places it in the top 37% of Zacks industries. Studies have shown that 50% of a stock price movement is directly related to the performance of the industry group it belongs to.
A mediocre stock within a strong group is likely to outclass a robust stock in a weak industry. Therefore, reckoning the industry’s performance becomes imperative.
Growth Drivers: The shipping company is being aided by the increased time charter rates earned by the company’s vessels. The increase in the average number of vessels owned and operated currently is also aiding results.
The Red Sea crisis is pushing up ocean freight rates, which is supporting ESEA. In August, the board declared a quarterly dividend of 60 cents per share ($2.40 annualized). ESEA’s shareholder-friendly approach throws light on its financial prosperity. The shipping company’s high dividend yield is a huge positive for income-seeking investors. This highlights confidence in its cash flow and prospects.
Other Stocks to Consider
Investors interested in the Zacks Transportation sector may also consider C.H. Robinson Worldwide (CHRW - Free Report) and Air Transport Service Group (ATSG - Free Report) .
C.H. Robinson Worldwide currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
CHRW has an expected earnings growth rate of 25.2% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 7.3%. Shares of CHRW have risen 45.3% in the past six months.
ATSG carries a Zacks Rank #2 (Buy) at present and has an expected earnings growth rate of 12% for the current year. The company has a mixed track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missing twice. The average miss is 7.7%. Shares of ATSG have climbed 9.7% in the past six months.