In the latest trading session, Eagle Bulk Shipping closed at $41.19, marking a +0.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.22%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.53%.
Heading into today, shares of the shipping company had lost 3.31% over the past month, lagging the Transportation sector's loss of 3.1% and outpacing the S&P 500's loss of 6.58% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release. The company is expected to report EPS of $5.49, up 54800% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. Recent revisions tend to reflect the latest 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. 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 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 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Eagle Bulk Shipping currently has a Forward P/E ratio of 3.08. This valuation marks a discount compared to its industry's average Forward P/E of 3.44.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 37% 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.
To follow EGLE in the coming trading sessions, be sure to utilize Zacks.com.
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Eagle Bulk Shipping (EGLE) Gains As Market Dips: What You Should Know
In the latest trading session, Eagle Bulk Shipping closed at $41.19, marking a +0.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.22%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.53%.
Heading into today, shares of the shipping company had lost 3.31% over the past month, lagging the Transportation sector's loss of 3.1% and outpacing the S&P 500's loss of 6.58% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release. The company is expected to report EPS of $5.49, up 54800% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. Recent revisions tend to reflect the latest 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. 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 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 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Eagle Bulk Shipping currently has a Forward P/E ratio of 3.08. This valuation marks a discount compared to its industry's average Forward P/E of 3.44.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 37% 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.
To follow EGLE in the coming trading sessions, be sure to utilize Zacks.com.