Star Bulk Carriers (SBLK) closed the most recent trading day at $17.86, moving -1.9% from the previous trading session. This change lagged the S&P 500's daily loss of 0.07%. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq appreciated by 0.03%.
The stock of shipping company has risen by 10.67% in the past month, leading the Transportation sector's gain of 2.01% and the S&P 500's gain of 3.94%.
The investment community will be closely monitoring the performance of Star Bulk Carriers in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.04, reflecting a 94.87% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $243.45 million, indicating a 31.01% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $1.32 per share and a revenue of $1.02 billion, demonstrating changes of -49.81% and -19.64%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Star Bulk Carriers. These recent revisions tend to reflect the evolving nature of short-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. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Star Bulk Carriers currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Star Bulk Carriers is presently being traded at a Forward P/E ratio of 13.79. Its industry sports an average Forward P/E of 9.01, so one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation – Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 28, finds itself in the top 12% echelons of all 250+ industries.
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.
