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Best Shipping Stocks to Buy Now (2024)
Top shipping stocks in 2024 ranked by overall Zen Score. See the best shipping stocks to buy now, according to analyst forecasts for the marine shipping industry.

Industry: Marine Shipping
Ticker
Company
Country
Market Cap
Shares
Institutional %
Insider %
Net Insider (L12M)
Net Insider (L3M)
DAC
DANAOS CORP
Greece
$1.46B19,418,69619.57%0.00%
ESEA
EUROSEAS LTD
Greece
$237.86M7,014,3316.26%0.00%
SBLK
STAR BULK CARRIERS CORP
Greece
$2.08B84,016,89237.35%10.04%
GASS
STEALTHGAS INC
Greece
$230.84M38,030,30939.23%28.49%
PXS
PYXIS TANKERS INC
Greece
$47.71M10,542,5471.56%0.00%
TORO
TORO CORP
Cyprus
$79.14M18,978,4091.74%0.00%
CMRE
COSTAMARE INC
Monaco
$1.39B118,374,62322.20%0.00%
SB
SAFE BULKERS INC
Monaco
$564.74M111,607,82821.67%0.00%
CPLP
CAPITAL PRODUCT PARTNERS LP
Greece
$916.40M55,039,1435.13%0.00%
ECO
OKEANIS ECO TANKERS CORP
Greece
$1.01B32,194,1084.80%0.00%
KEX
KIRBY CORP
United States
$6.55B58,522,00095.25%4.75%Net SellingNet Selling
ASC
ARDMORE SHIPPING CORP
Bermuda
$697.64M41,304,64961.17%0.00%
DSX
DIANA SHIPPING INC
Greece
$333.54M113,065,72511.45%0.00%
PSHG
PERFORMANCE SHIPPING INC
Greece
$25.05M12,279,6766.04%0.00%
MATX
MATSON INC
United States
$3.76B34,495,71284.57%7.24%Net SellingNet Selling
GOGL
GOLDEN OCEAN GROUP LTD
Bermuda
$2.80B199,628,29322.08%0.00%
PANL
PANGAEA LOGISTICS SOLUTIONS LTD
United States
$327.05M46,721,22823.63%76.37%Net SellingNet Buying
CISS
C3IS INC
Greece
$98.57k73,015100.00%0.00%
CTRM
CASTOR MARITIME INC
Cyprus
$31.21M9,662,38810.79%0.00%
GSL
GLOBAL SHIP LEASE INC
Marshall Islands
$802.65M35,188,32351.22%8.11%
GLBS
GLOBUS MARITIME LTD
Greece
$40.14M20,582,3010.91%0.00%
CDLR
CADELER A
Denmark
$1.46B311,409,8682.85%0.00%
NMM
NAVIOS MARITIME PARTNERS LP
Monaco
$1.35B30,184,38824.77%0.00%
GNK
GENCO SHIPPING & TRADING LTD
United States
$920.84M42,730,45553.18%30.08%Net SellingNet Selling
CLCO
COOL CO LTD
Bermuda
$588.58M53,702,84616.73%0.00%
OP
OCEANPAL INC
Greece
$18.03M7,448,6011.47%0.00%
NAT
NORDIC AMERICAN TANKERS LTD
Bermuda
$828.92M208,796,44444.27%0.00%
SHIP
SEANERGY MARITIME HOLDINGS CORP
Greece
$187.92M19,636,3526.10%14.00%
SMHI
SEACOR MARINE HOLDINGS INC
United States
$344.08M27,178,34959.04%17.90%Net SellingNet Selling
EDRY
EURODRY LTD
Greece
$58.29M2,832,4172.44%0.00%
ZIM
ZIM INTEGRATED SHIPPING SERVICES LTD
United States
$1.59B120,286,62721.45%0.00%
SFL
SFL CORP LTD
Bermuda
$1.82B137,467,07828.82%0.00%
CACO
CARAVELLE INTERNATIONAL GROUP
Singapore
$50.00M50,000,0000.24%6.18%
USEA
UNITED MARITIME CORP
Greece
$21.52M8,694,6301.67%0.00%
KNOP
KNOT OFFSHORE PARTNERS LP
United Kingdom
$169.88M34,045,08119.35%0.00%
TOPS
TOP SHIPS INC
Greece
$57.41M4,626,1970.42%1.63%
GRIN
GRINDROD SHIPPING HOLDINGS LTD
Singapore
$266.54M19,685,5901.10%21.99%
HSHP
HIMALAYA SHIPPING LTD
Bermuda
$363.93M43,900,00020.28%0.00%

Shipping Stocks FAQ

What are the best shipping stocks to buy right now in Apr 2024?

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

1. Danaos (NYSE:DAC)


Danaos (NYSE:DAC) is the top shipping stock with a Zen Score of 73, which is 40 points higher than the shipping industry average of 33. It passed 27 out of 38 due diligence checks and has strong fundamentals. Danaos has seen its stock return 30.44% over the past year, underperforming other shipping stocks by -11 percentage points.

Danaos has an average 1 year price target of $90.00, an upside of 19.66% from Danaos's current stock price of $75.21.

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

2. Euroseas (NASDAQ:ESEA)


Euroseas (NASDAQ:ESEA) is the second best shipping stock with a Zen Score of 67, which is 34 points higher than the shipping industry average of 33. It passed 24 out of 38 due diligence checks and has strong fundamentals. Euroseas has seen its stock return 78.94% over the past year, overperforming other shipping stocks by 37 percentage points.

3. Star Bulk Carriers (NASDAQ:SBLK)


Star Bulk Carriers (NASDAQ:SBLK) is the third best shipping stock with a Zen Score of 65, which is 32 points higher than the shipping industry average of 33. It passed 24 out of 38 due diligence checks and has strong fundamentals. Star Bulk Carriers has seen its stock return 19.49% over the past year, underperforming other shipping stocks by -22 percentage points.

Star Bulk Carriers has an average 1 year price target of $53.50, an upside of 116.51% from Star Bulk Carriers's current stock price of $24.71.

Star Bulk Carriers stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Star Bulk Carriers, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the shipping stocks with highest dividends?

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

1. Zim Integrated Shipping Services (NYSE:ZIM)


Zim Integrated Shipping Services (NYSE:ZIM) has an annual dividend yield of N/A, which is N/A percentage points lower than the shipping industry average of 5.24%.

Zim Integrated Shipping Services's dividend payout ratio of -28.5% indicates that its dividend yield might not be sustainable for the long-term.

2. Diana Shipping (NYSE:DSX)


Diana Shipping (NYSE:DSX) has an annual dividend yield of 17.8%, which is 13 percentage points higher than the shipping industry average of 5.24%. Diana Shipping's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Diana Shipping's dividend has not shown consistent growth over the last 10 years.

Diana Shipping's dividend payout ratio of 119.3% indicates that its high dividend yield might not be sustainable for the long-term.

3. Nordic American Tankers (NYSE:NAT)


Nordic American Tankers (NYSE:NAT) has an annual dividend yield of 11.59%, which is 6 percentage points higher than the shipping industry average of 5.24%. Nordic American Tankers's dividend payout is not stable, having dropped more than 10% fourteen 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 357.1% indicates that its high dividend yield might not be sustainable for the long-term.

Why are shipping stocks up?

Shipping stocks were up 1.07% in the last day, and up 5.63% over the last week.

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

What are the most undervalued shipping stocks?

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

1. Stealthgas (NASDAQ:GASS)


Stealthgas (NASDAQ:GASS) is the most undervalued shipping stock based on WallStreetZen's Valuation Score. Stealthgas has a valuation score of 100, which is 64 points higher than the shipping industry average of 36. It passed 7 out of 7 valuation due diligence checks.

Stealthgas's stock has gained 129.06% in the past year. It has overperformed other stocks in the shipping industry by 87 percentage points.

2. Star Bulk Carriers (NASDAQ:SBLK)


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 50 points higher than the shipping industry average of 36. It passed 6 out of 7 valuation due diligence checks.

Star Bulk Carriers's stock has gained 19.49% in the past year. It has underperformed other stocks in the shipping industry by -22 percentage points.

3. Costamare (NYSE:CMRE)


Costamare (NYSE:CMRE) is the third most undervalued shipping stock based on WallStreetZen's Valuation Score. Costamare has a valuation score of 71, which is 35 points higher than the shipping industry average of 36. It passed 5 out of 7 valuation due diligence checks.

Costamare's stock has gained 32.51% in the past year. It has underperformed other stocks in the shipping industry by -9 percentage points.

Are shipping stocks a good buy now?

77.78% of shipping stocks rated by analysts are a strong buy right now. On average, analysts expect shipping stocks to rise by 18.26% over the next year.

What is the average p/e ratio of the marine shipping industry?

The average P/E ratio of the marine shipping industry is 17.39x.
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