Sectors & IndustriesIndustrialsMarine Shipping

Best Shipping Stocks to Buy Now (2024)

Top shipping stocks in 2024 ranked by overall Due Diligence Score. See the best shipping stocks to buy now, according to analyst forecasts for the marine shipping industry.

According to Due Diligence Score, the 3 best shipping stocks to buy right now are:

Euroseas (NASDAQ:ESEA) is the top shipping stock with a Due Diligence Score of 61, which is 27 points higher than the shipping industry average of 34. It passed 22 out of 38 due diligence checks and has strong fundamentals. Euroseas has seen its stock return 35.52% over the past year, overperforming other shipping stocks by 22 percentage points.

Euroseas has an average 1 year price target of $53.00, an upside of 35.52% from Euroseas's current stock price of $39.11.

Euroseas stock has a consensus Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Euroseas, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Star Bulk Carriers (NASDAQ:SBLK) is the second best shipping stock with a Due Diligence Score of 61, which is 27 points higher than the shipping industry average of 34. It passed 22 out of 38 due diligence checks and has strong fundamentals. Star Bulk Carriers has seen its stock lose -20.54% over the past year, underperforming other shipping stocks by -34 percentage points.

Star Bulk Carriers has an average 1 year price target of $25.00, an upside of 56.45% from Star Bulk Carriers's current stock price of $15.98.

Star Bulk Carriers stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Star Bulk Carriers, 66.67% have issued a Strong Buy rating, 0% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Ardmore Shipping (NYSE:ASC) is the third best shipping stock with a Due Diligence Score of 59, which is 25 points higher than the shipping industry average of 34. It passed 21 out of 38 due diligence checks and has strong fundamentals. Ardmore Shipping has seen its stock lose -17.66% over the past year, underperforming other shipping stocks by -32 percentage points.

Ardmore Shipping has an average 1 year price target of $20.00, an upside of 76.52% from Ardmore Shipping's current stock price of $11.33.

Ardmore Shipping stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Ardmore Shipping, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 19 shipping stocks that have issued dividends in the past year, the 3 shipping stocks with the highest dividend yields are:

Nordic American Tankers (NYSE:NAT) has an annual dividend yield of 15.67%, which is 8 percentage points higher than the shipping industry average of 7.36%. Nordic American Tankers's dividend payout is not stable, having dropped more than 10% thirteen times in the last 10 years. Nordic American Tankers's dividend has not shown consistent growth over the last 10 years.

Nordic American Tankers's dividend payout ratio of 97.9% indicates that its high dividend yield might not be sustainable for the long-term.

Star Bulk Carriers (NASDAQ:SBLK) has an annual dividend yield of 15.64%, which is 8 percentage points higher than the shipping industry average of 7.36%. Star Bulk Carriers's dividend payout is not stable, having dropped more than 10% six times in the last 10 years. Star Bulk Carriers's dividend has shown consistent growth over the last 10 years.

Star Bulk Carriers's dividend payout ratio of 70.9% indicates that its high dividend yield is sustainable for the long-term.

Hafnia (NYSE:HAFN) has an annual dividend yield of 15.02%, which is 8 percentage points higher than the shipping industry average of 7.36%.

Shipping stocks were down -1.14% in the last day, and down -2.22% over the last week.

We couldn't find a catalyst for why shipping stocks are down.

Based on WallStreetZen's Valuation Score, the 3 most undervalued shipping stocks right now are:

Stealthgas (NASDAQ:GASS) is the most undervalued shipping stock based on WallStreetZen's Valuation Score. Stealthgas has a valuation score of 100, which is 63 points higher than the shipping industry average of 37. It passed 7 out of 7 valuation due diligence checks.

Stealthgas's stock has dropped -19.18% in the past year. It has underperformed other stocks in the shipping industry by -33 percentage points.

Star Bulk Carriers (NASDAQ:SBLK) is the second most undervalued shipping stock based on WallStreetZen's Valuation Score. Star Bulk Carriers has a valuation score of 86, which is 49 points higher than the shipping industry average of 37. It passed 6 out of 7 valuation due diligence checks.

Star Bulk Carriers's stock has dropped -20.54% in the past year. It has underperformed other stocks in the shipping industry by -34 percentage points.

Pyxis Tankers (NASDAQ:PXS) is the third most undervalued shipping stock based on WallStreetZen's Valuation Score. Pyxis Tankers has a valuation score of 71, which is 34 points higher than the shipping industry average of 37. It passed 5 out of 7 valuation due diligence checks.

Pyxis Tankers's stock has dropped -10.22% in the past year. It has underperformed other stocks in the shipping industry by -24 percentage points.