Dorian LPG (LPG) shares ended the last trading session 5.2% higher at $42.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% gain over the past four weeks.
The Dorian LPG stock has risen for the fourth consecutive day driven by the fact that it stands to benefit from the recent Panama Canal restrictions.Notably, LPG shares have surged 124% in a year's time.
This liquified petroleum gas shipping company is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of +76%. Revenues are expected to be $157.43 million, up 52.4% 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 Dorian LPG, the consensus EPS estimate for the quarter has been revised 13.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LPG 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 >>>>
Dorian LPG is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Eneti (NETI), finished the last trading session 4.2% higher at $12.23. NETI has returned 18.2% over the past month.
For Eneti
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>Dorian LPG Ltd. (LPG) : Free Stock Analysis Report
Eneti Inc. (NETI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
