Eagle Bulk Shipping closed the most recent trading day at $42.82, moving -0.79% from the previous trading session. This change was narrower than the S&P 500's 0.97% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, added 0.23%.
Heading into today, shares of the shipping company had gained 6.15% over the past month, outpacing the Transportation sector's gain of 0.51% and the S&P 500's loss of 0.78% in that time.
Eagle Bulk Shipping will be looking to display strength as it nears its next earnings release. On that day, Eagle Bulk Shipping is projected to report earnings of $5.49 per share, which would represent year-over-year growth of 54800%. Our most recent consensus estimate is calling for quarterly revenue of $153.01 million, up 175.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Eagle Bulk Shipping is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Eagle Bulk Shipping is currently trading at a Forward P/E ratio of 3.25. For comparison, its industry has an average Forward P/E of 3.81, which means Eagle Bulk Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Image: Bigstock
Eagle Bulk Shipping (EGLE) Stock Moves -0.79%: What You Should Know
Eagle Bulk Shipping closed the most recent trading day at $42.82, moving -0.79% from the previous trading session. This change was narrower than the S&P 500's 0.97% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, added 0.23%.
Heading into today, shares of the shipping company had gained 6.15% over the past month, outpacing the Transportation sector's gain of 0.51% and the S&P 500's loss of 0.78% in that time.
Eagle Bulk Shipping will be looking to display strength as it nears its next earnings release. On that day, Eagle Bulk Shipping is projected to report earnings of $5.49 per share, which would represent year-over-year growth of 54800%. Our most recent consensus estimate is calling for quarterly revenue of $153.01 million, up 175.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Eagle Bulk Shipping is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Eagle Bulk Shipping is currently trading at a Forward P/E ratio of 3.25. For comparison, its industry has an average Forward P/E of 3.81, which means Eagle Bulk Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.