Here is how EuroDry (EDRY) and Euroseas Ltd. (ESEA) have performed compared to their sector so far this year.
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has EuroDry (EDRY) been one of those stocks this year? 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.
EuroDry is a member of our Transportation group, which includes 101 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. EuroDry is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for EDRY's full-year earnings has moved 104.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that EDRY has returned about 54.2% since the start of the calendar year. In comparison, Transportation companies have returned an average of 6.1%. As we can see, EuroDry is performing better than its sector in the calendar year.
Another stock in the Transportation sector, Euroseas Ltd. (ESEA), has outperformed the sector so far this year. The stock's year-to-date return is 23.2%.
For Euroseas Ltd., the consensus EPS estimate for the current year has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, EuroDry belongs to the Transportation - Shipping industry, a group that includes 22 individual stocks and currently sits at #66 in the Zacks Industry Rank. This group has gained an average of 36.7% so far this year, so EDRY is performing better in this area. Euroseas Ltd. is also part of the same industry.
EuroDry and Euroseas Ltd. could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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