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GasLog Partners LP (GLOP) Soars 11%: Is Further Upside Left in the Stock?
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GasLog Partners LP shares soared 11% in the last trading session to close at $5.87. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.9% loss over the past four weeks.
The stock surged primarily on optimism surrounding the increased demand for LNG led by higher demand in Europe (thanks to lower pipeline supply from Russia amid the war) and South-East Asia.
This company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +290%. Revenues are expected to be $81.66 million, up 16.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GasLog Partners LP, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLOP going forward to see if this recent jump can turn into more strength down the road.
GasLog Partners LP is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Tsakos Energy (TNP - Free Report) , finished the last trading session 4.4% higher at $11.23. TNP has returned -13.6% over the past month.
For Tsakos, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.22. This represents a change of +72.5% from what the company reported a year ago. Tsakos currently has a Zacks Rank of #3 (Hold).
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GasLog Partners LP (GLOP) Soars 11%: Is Further Upside Left in the Stock?
GasLog Partners LP shares soared 11% in the last trading session to close at $5.87. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.9% loss over the past four weeks.
The stock surged primarily on optimism surrounding the increased demand for LNG led by higher demand in Europe (thanks to lower pipeline supply from Russia amid the war) and South-East Asia.
This company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +290%. Revenues are expected to be $81.66 million, up 16.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GasLog Partners LP, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLOP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GasLog Partners LP is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Tsakos Energy (TNP - Free Report) , finished the last trading session 4.4% higher at $11.23. TNP has returned -13.6% over the past month.
For Tsakos, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.22. This represents a change of +72.5% from what the company reported a year ago. Tsakos currently has a Zacks Rank of #3 (Hold).