HomeMost PopularTech StocksTransportation Stocks: A Plentiful Harvest Amidst Earnings Season

Transportation Stocks: A Plentiful Harvest Amidst Earnings Season

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The Zacks Transportation-Shipping Industry has been a hotbed of activity this earnings season, boasting robust quarterly performances across companies in the sector. Currently seated in the top 27% of over 250 Zacks industries, the Transportation-Shipping Industry has yielded a total return, including dividends, of +23% this year, narrowly surpassing the S&P 500’s vigorous year-to-date performance. Among the stocks that have gained momentum after triumphant earnings surprises, Frontline PLC FROΒ is set to captivate attention as it gears up for its third quarter results on Thursday, November 30.Β Β 

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Image Source: Zacks Investment Research

Frontline Q3 Preview

Specializing in the seaborne transportation of crude oil and oil products, Frontline’s stock currently holds the favorable Zacks Rank #1 (Strong Buy). Anticipating robust annual double-digit percentage growth in its top and bottom lines, Frontline’s Q3 earnings are predicted to climb 24% to $0.46 per share, with sales expected to reach $250.3 million, marking a 20% upsurge.

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Image Source: Zacks Investment Research

What’s even more enticing is that Frontline has yielded a total return of over +100% this year, yet it is trading at 8.1X forward earnings, closely aligned with the industry average, and offering an appealing discount compared to the S&P 500’s 21.3X.

Zacks Investment Research
Image Source: Zacks Investment Research

With earnings estimate revisions on an upward trajectory over the past 30 days, the additional cherry on top is Frontline’s enticing 14.41% annual dividend yield, a potentially sustainable offering given the company’s current profitability.

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Image Source: Zacks Investment Research

Other Stocks to Consider

Also securing a Zacks Rank #1 (Strong Buy) are Dorian LPG LPGΒ and Eneti NETI, two standout stocks within the Zacks Transportation-Shipping Industry. Dorian LPG, a liquified petroleum gas shipping company, and Eneti, which provides installation and maintenance vessels to the offshore wind sector, effortlessly surpassed their quarterly top and bottom line expectations earlier this month.

Corresponding to their strong buy ratings, the trend of positive earnings estimate revisions for both stocks over the last month underscores the present as an opportune moment for investment.Β 

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Ever since 1988, the whole assortment has outperformed the market by over 2X, with an average annual gain of +24.0%. Make sure not to overlook these hand-picked 7 recommendations.Β 

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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