The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Diana Shipping (DSX - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Diana Shipping is a member of the Transportation sector. This group includes 144 individual stocks and currently holds a Zacks Sector Rank of #11. 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. DSX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DSX's full-year earnings has moved 107.83% 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, DSX has gained about 23.34% so far this year. Meanwhile, the Transportation sector has returned an average of -3.04% on a year-to-date basis. This shows that Diana Shipping is outperforming its peers so far this year.
Looking more specifically, DSX belongs to the Transportation - Shipping industry, which includes 46 individual stocks and currently sits at #156 in the Zacks Industry Rank. Stocks in this group have gained about 7.10% so far this year, so DSX is performing better this group in terms of year-to-date returns.
Investors in the Transportation sector will want to keep a close eye on DSX as it attempts to continue its solid performance.