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 114 individual stocks and currently holds a Zacks Sector Rank of #6. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. EuroDry is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for EDRY's full-year earnings has moved 104.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, EDRY has returned 56.5% so far this year. In comparison, Transportation companies have returned an average of 3.5%. This means that EuroDry is performing better than its sector in terms of year-to-date returns.
Another Transportation stock, which has outperformed the sector so far this year, is Euroseas Ltd. (ESEA). The stock has returned 25.6% year-to-date.
For Euroseas Ltd., the consensus EPS estimate for the current year has increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, EuroDry belongs to the Transportation - Shipping industry, which includes 36 individual stocks and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 24.8% so far this year, so EDRY is performing better in this area. Euroseas Ltd. is also part of the same industry.
Investors with an interest in Transportation stocks should continue to track EuroDry and Euroseas Ltd.. These stocks will be looking to continue their solid performance.
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EuroDry (EDRY): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).