We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Star Bulk Carriers (SBLK) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
The most recent trading session ended with Star Bulk Carriers (SBLK - Free Report) standing at $18.82, reflecting a -1.83% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 1.43%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 2.43%.
Shares of the shipping company have appreciated by 2.57% over the course of the past month, outperforming the Transportation sector's loss of 5.91% and the S&P 500's loss of 1.55%.
The investment community will be closely monitoring the performance of Star Bulk Carriers in its forthcoming earnings report. The company is scheduled to release its earnings on November 13, 2023. The company's earnings per share (EPS) are projected to be $0.17, reflecting an 87.22% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $191.37 million, indicating a 47.45% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.02 per share and revenue of $922.04 million, indicating changes of -65.99% and -35.84%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Star Bulk Carriers. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 6.13% higher. Star Bulk Carriers currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Star Bulk Carriers currently has a Forward P/E ratio of 9.47. This valuation marks a premium compared to its industry's average Forward P/E of 7.38.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Star Bulk Carriers (SBLK) Suffers a Larger Drop Than the General Market: Key Insights
The most recent trading session ended with Star Bulk Carriers (SBLK - Free Report) standing at $18.82, reflecting a -1.83% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 1.43%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 2.43%.
Shares of the shipping company have appreciated by 2.57% over the course of the past month, outperforming the Transportation sector's loss of 5.91% and the S&P 500's loss of 1.55%.
The investment community will be closely monitoring the performance of Star Bulk Carriers in its forthcoming earnings report. The company is scheduled to release its earnings on November 13, 2023. The company's earnings per share (EPS) are projected to be $0.17, reflecting an 87.22% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $191.37 million, indicating a 47.45% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.02 per share and revenue of $922.04 million, indicating changes of -65.99% and -35.84%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Star Bulk Carriers. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 6.13% higher. Star Bulk Carriers currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Star Bulk Carriers currently has a Forward P/E ratio of 9.47. This valuation marks a premium compared to its industry's average Forward P/E of 7.38.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.