In the latest trading session, Star Bulk Carriers (SBLK) closed at $19.43, marking a +2.53% move from the previous day. This move outpaced the S&P 500's daily loss of 0.03%. Meanwhile, the Dow experienced a drop of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
Shares of the shipping company witnessed a loss of 4% over the previous month, trailing the performance of the Transportation sector with its gain of 6.83%, and the S&P 500's gain of 2.57%.
The upcoming earnings release of Star Bulk Carriers will be of great interest to investors. The company's upcoming EPS is projected at $0.52, signifying a 52.94% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $291.28 million, indicating a 5.71% decline compared to the corresponding quarter of the prior year.
SBLK's full-year Zacks Consensus Estimates are calling for earnings of $0.85 per share and revenue of $1.03 billion. These results would represent year-over-year changes of -67.68% and -18.35%, respectively.
Investors should also note any recent changes to analyst estimates for Star Bulk Carriers. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Star Bulk Carriers boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Star Bulk Carriers is holding a Forward P/E ratio of 22.29. This indicates a premium in contrast to its industry's Forward P/E of 10.75.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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