Finally, this market is giving us a pullback. Only, there’s a strange thing about pullbacks. When they happen, most of y’all are too full of cowardice to plug your nose and buy the dip. Too often, investors shy away and later wonder why they didn’t go all in. Welp, there are several reasons why. I’m here to help quell a couple of them. The most important being earnings estimates. If  you see earnings moving up, then you should pause and think about the stock you’re analyzing.

Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) Danaos (DAC Quick QuoteDAC - Free Report) ). Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.

Danaos is in the Transportation – Shipping industry which ranks in the Top 26% of our Zacks Industry Rank. The reason for the favorable rank is that over the last sixty days, analysts have pushed up their estimates for both the current year and next year. The bullish sentiment has jacked up our current year Zacks Consensus Estimate from $29.19 to $31.33 while next year’s number is up from $23.63 to $26.15.

That means analysts are forecasting contraction for both sales and earningsover the course of the next two years.