Star Bulk Carriers (SBLK) ended the recent trading session at $26.02, demonstrating a -1.25% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.51%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Prior to today's trading, shares of the shipping company had lost 1.5% lagged the Transportation sector's gain of 0.3% and the S&P 500's gain of 0.53%.
The upcoming earnings release of Star Bulk Carriers will be of great interest to investors. The company is forecasted to report an EPS of $0.96, showcasing a 772.73% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $338.39 million, up 36.77% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Star Bulk Carriers should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Star Bulk Carriers currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Star Bulk Carriers has a Forward P/E ratio of 6.76 right now. This indicates a discount in contrast to its industry's Forward P/E of 8.83.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 46, placing it within the top 19% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SBLK in the coming trading sessions, be sure to utilize Zacks.com.
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Star Bulk Carriers Corp. (SBLK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).