Eagle Bulk Shipping closed at $63.49 in the latest trading session, marking a -0.7% move from the prior day. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.91%.
Heading into today, shares of the shipping company had gained 18.3% over the past month, outpacing the Transportation sector's gain of 2.88% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from Eagle Bulk Shipping as it approaches its next earnings report date. The company is expected to report EPS of $3.96, up 371.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $134.93 million, up 92.87% from the year-ago period.
EGLE's full-year Zacks Consensus Estimates are calling for earnings of $16.26 per share and revenue of $523.54 million. These results would represent year-over-year changes of +33.5% and +6.87%, respectively.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 27.22% higher within the past month. Eagle Bulk Shipping is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 3.93. This valuation marks a discount compared to its industry's average Forward P/E of 4.17.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Eagle Bulk Shipping (EGLE) Stock Sinks As Market Gains: What You Should Know
Eagle Bulk Shipping closed at $63.49 in the latest trading session, marking a -0.7% move from the prior day. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.91%.
Heading into today, shares of the shipping company had gained 18.3% over the past month, outpacing the Transportation sector's gain of 2.88% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from Eagle Bulk Shipping as it approaches its next earnings report date. The company is expected to report EPS of $3.96, up 371.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $134.93 million, up 92.87% from the year-ago period.
EGLE's full-year Zacks Consensus Estimates are calling for earnings of $16.26 per share and revenue of $523.54 million. These results would represent year-over-year changes of +33.5% and +6.87%, respectively.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 27.22% higher within the past month. Eagle Bulk Shipping is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 3.93. This valuation marks a discount compared to its industry's average Forward P/E of 4.17.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.