For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Golar LNG (GLNG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Golar LNG is one of 140 individual stocks in the Transportation sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Golar LNG is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GLNG's full-year earnings has moved 72% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, GLNG has gained about 89.2% so far this year. In comparison, Transportation companies have returned an average of 1.7%. This shows that Golar LNG is outperforming its peers so far this year.
One other Transportation stock that has outperformed the sector so far this year is Matson (MATX). The stock is up 35.2% year-to-date.
For Matson, the consensus EPS estimate for the current year has increased 149.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Golar LNG is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, this group has gained an average of 36% so far this year, meaning that GLNG is performing better in terms of year-to-date returns.
Matson, however, belongs to the Transportation - Services industry. Currently, this 30-stock industry is ranked #54. The industry has moved -5.7% so far this year.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Golar LNG and Matson as they could maintain their solid performance.
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Golar LNG Limited (GLNG): Free Stock Analysis Report
Matson, Inc. (MATX): Free Stock Analysis Report
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