Seanergy Maritime Holdings SHIP is scheduled to report third-quarter 2024 results on Nov. 5, before market open.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

The Zacks Consensus Estimate for SHIP’s earnings has been revised upward by 12.73% in the past 60 days to 62 cents per share. The consensus mark for earnings indicates massive growth of 543% year over year. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $42.1 million, which indicates growth of 72.2% year over year.

Image Source: Zacks Investment Research

The company surpassed the Zacks Consensus Estimate in each of the past three quarters.

Seanergy Maritime, a dry bulk shipping company, is benefiting from the improving sentiment surrounding the Capesize market. The favorable conditions in the dry bulk sector, along with other positive market factors, have been contributing to the company’s prospects in the to-be-reported quarter.

Moreover, an increase in manufacturing activities in Asia has been further bolstering the containership market, providing a significant tailwind for shipping companies like Seanergy Maritime.

On the contrary, surging operating expenses are expected to have an adverse effect on SHIP’s bottom-line performance in the to-be-reported quarter. This increase is anticipated to have been driven by elevated fuel expenses and vessel operating costs. Additionally, lingering supply-chain disruptions are expected to have further dampened the company's performance for the quarter ending in September.

What Our Model Predicts for Seanergy Maritime 

Our proven model does not conclusively predict an earnings beat for Seanergy Maritime this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

Seanergy Maritime has an Earnings ESP of -1.61% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are some stocks from the broader Zacks Transportation sector that investors might want to consider, as our model shows that these have the right combination of elements to beat third-quarter 2024 earnings.

Expeditors International of Washington EXPD is scheduled to report its third-quarter 2024 results on Nov. 5, before market open. The company has an Earnings ESP of +2.13% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company has a disappointing earnings history, having missed the Zacks Consensus Estimate in two of the preceding four quarters and surpassed twice. The average miss is 2.7%.

Copa Holdings CPA  has an Earnings ESP of +0.88% and a Zacks Rank #2 at present. This Latin America’s airline is scheduled to report third-quarter 2024 earnings results on Nov. 20.

CPA surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 16%. Rosy air travel demand and low fuel costs are likely to have aided its performance in the quarter under review

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Expeditors International of Washington, Inc. (EXPD) : Free Stock Analysis Report

Copa Holdings, S.A. (CPA) : Free Stock Analysis Report

Seanergy Maritime Holdings Corp (SHIP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research