In the latest trading session, Star Bulk Carriers (SBLK) closed at $17.72, marking a +1.06% move from the previous day. This move outpaced the S&P 500's daily gain of 0.58%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 0.89%.
Shares of the shipping company have depreciated by 11.75% over the course of the past month, underperforming the Transportation sector's gain of 0.22%, and the S&P 500's gain of 0.16%.
Investors will be eagerly watching for the performance of Star Bulk Carriers in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.35, signifying a 50.70% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $276.05 million, indicating a 19.82% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.04 per share and revenue of $1.05 billion. These totals would mark changes of -60.46% and -17.26%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Star Bulk Carriers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Star Bulk Carriers boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Star Bulk Carriers is at present trading with a Forward P/E ratio of 16.86. Its industry sports an average Forward P/E of 11.59, so one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Star Bulk Carriers Corp. (SBLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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