Star Bulk Carriers (SBLK) closed at $17.40 in the latest trading session, marking a +2.29% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.13% for the day. Meanwhile, the Dow lost 1.79%, and the Nasdaq, a tech-heavy index, lost 1.3%.
Shares of the shipping company have appreciated by 1.25% over the course of the past month, outperforming the Transportation sector's loss of 0.07%, and lagging the S&P 500's gain of 3.55%.
Market participants will be closely following the financial results of Star Bulk Carriers in its upcoming release. The company is forecasted to report an EPS of $0.04, showcasing a 94.87% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $243.45 million, indicating a 31.01% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.32 per share and revenue of $1.02 billion, which would represent changes of -49.81% and -19.64%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Star Bulk Carriers. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.09% higher within the past month. Star Bulk Carriers is currently a Zacks Rank #4 (Sell).
Investors should also note Star Bulk Carriers's current valuation metrics, including its Forward P/E ratio of 12.89. This signifies a premium in comparison to the average Forward P/E of 9.41 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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