Star Bulk Carriers (SBLK) closed at $24.84 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily loss of 0.24%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Heading into today, shares of the shipping company had gained 9.49% over the past month, outpacing the Transportation sector's gain of 6.65% and the S&P 500's gain of 6.42%.
Market participants will be closely following the financial results of Star Bulk Carriers in its upcoming release. 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. Alongside, our most recent consensus estimate is anticipating revenue of $268.55 million, indicating a 16.43% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.52 per share and a revenue of $1.2 billion, signifying shifts of +159.79% and +14.9%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Star Bulk Carriers. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.88% lower. As of now, Star Bulk Carriers holds a Zacks Rank of #4 (Sell).
With respect to valuation, Star Bulk Carriers is currently being traded at a Forward P/E ratio of 9.7. For comparison, its industry has an average Forward P/E of 10.01, which means Star Bulk Carriers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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).