Star Bulk Carriers (SBLK) closed at $21.66 in the latest trading session, marking a +1.21% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.5% for the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.43%.
Shares of the shipping company have appreciated by 10.14% over the course of the past month, outperforming the Transportation sector's gain of 1.17%, and the S&P 500's gain of 0.18%.
The upcoming earnings release of Star Bulk Carriers will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 52.94% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $291.28 million, down 5.71% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.85 per share and a revenue of $1.03 billion, signifying shifts of -67.68% and 0%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Star Bulk Carriers. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Star Bulk Carriers is carrying 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 7.78. This signifies a discount in comparison to the average Forward P/E of 11.13 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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