In the latest trading session, Eagle Bulk Shipping closed at $49.52, marking a -0.6% move from the previous day. This change lagged the S&P 500's 1.19% gain on the day. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the shipping company had gained 15.67% in the past month. In that same time, the Transportation sector lost 3.33%, while the S&P 500 lost 0.84%.
Wall Street will be looking for positivity from Eagle Bulk Shipping as it approaches its next earnings report date. This is expected to be November 3, 2022. The company is expected to report EPS of $4.31, down 12.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $135.63 million, down 11.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.42 per share and revenue of $546.06 million, which would represent changes of +34.81% and +11.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 4.19% lower within the past month. Eagle Bulk Shipping is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Eagle Bulk Shipping is holding a Forward P/E ratio of 3.04. This valuation marks a discount compared to its industry's average Forward P/E of 3.23.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Eagle Bulk Shipping (EGLE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Eagle Bulk Shipping closed at $49.52, marking a -0.6% move from the previous day. This change lagged the S&P 500's 1.19% gain on the day. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the shipping company had gained 15.67% in the past month. In that same time, the Transportation sector lost 3.33%, while the S&P 500 lost 0.84%.
Wall Street will be looking for positivity from Eagle Bulk Shipping as it approaches its next earnings report date. This is expected to be November 3, 2022. The company is expected to report EPS of $4.31, down 12.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $135.63 million, down 11.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.42 per share and revenue of $546.06 million, which would represent changes of +34.81% and +11.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 4.19% lower within the past month. Eagle Bulk Shipping is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Eagle Bulk Shipping is holding a Forward P/E ratio of 3.04. This valuation marks a discount compared to its industry's average Forward P/E of 3.23.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.