Star Bulk Carriers (SBLK) closed the most recent trading day at $20.90, moving +1.41% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.26% for the day. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq added 0.25%.
Prior to today's trading, shares of the shipping company had gained 12.99% outpaced the Transportation sector's gain of 0.81% and the S&P 500's gain of 1.57%.
The investment community will be paying close attention to the earnings performance of Star Bulk Carriers in its upcoming release. The company's upcoming EPS is projected at $0.52, signifying a 52.94% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $291.28 million, showing a 5.71% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.85 per share and a revenue of $1.03 billion, representing changes of -67.68% and 0%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Star Bulk Carriers. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Star Bulk Carriers is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Star Bulk Carriers has a Forward P/E ratio of 7.49 right now. This indicates a discount in contrast to its industry's Forward P/E of 12.16.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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