In the latest close session, Star Bulk Carriers (SBLK) was down 4.3% at $24.90. The stock's change was less than the S&P 500's daily loss of 1.01%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.4%.
The shipping company's shares have seen an increase of 0.81% over the last month, not keeping up with the Transportation sector's gain of 3.24% and outstripping the S&P 500's gain of 0.32%.
Market participants will be closely following the financial results of Star Bulk Carriers in its upcoming release. The company's upcoming EPS is projected at $0.96, signifying a 772.73% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $338.39 million, indicating a 36.77% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.9 per share and revenue of $1.35 billion, indicating changes of +302.06% and +29.58%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Star Bulk Carriers. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Star Bulk Carriers presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Star Bulk Carriers currently has a Forward P/E ratio of 6.67. This valuation marks a discount compared to its industry average Forward P/E of 8.88.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 42, placing it within the top 18% of over 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.
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 Report
This article originally published on Zacks Investment Research (zacks.com).