Star Bulk Carriers (SBLK) closed at $24.20 in the latest trading session, marking a -1.77% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 0.83%.
Coming into today, shares of the shipping company had gained 5.66% in the past month. In that same time, the Transportation sector gained 0.41%, while the S&P 500 gained 0.8%.
The investment community will be closely monitoring the performance of Star Bulk Carriers in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.39, marking a 657.14% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $268.55 million, up 16.43% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.52 per share and revenue of $1.2 billion, indicating changes of +159.79% and +14.9%, 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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.88% lower 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 9.77. For comparison, its industry has an average Forward P/E of 11.56, which means Star Bulk Carriers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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).