Eagle Bulk Shipping shares ended the last trading session 6.6% higher at $66.57. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.7% loss over the past four weeks.
The uptick is attributable to the overall optimism surrounding the shipping industry as economic activities gradually gather pace. Improved market sentiments surrounding the Drybulk market are aiding the stock. In fact shares of the company have performed brilliantly in a year's time, gaining 87.7%.
This shipping company is expected to post quarterly earnings of $3.96 per share in its upcoming report, which represents a year-over-year change of +371.4%. Revenues are expected to be $134.93 million, up 92.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Eagle Bulk Shipping, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EGLE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Eagle Bulk Shipping is part of the Zacks Transportation - Shipping industry. Hoegh LNG , another stock in the same industry, closed the last trading session 3.1% higher at $7.04. HMLP has returned 49.5% in the past month.
For Hoegh LNG, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. This represents a change of +5.3% from what the company reported a year ago. Hoegh LNG currently has a Zacks Rank of #2 (Buy).
Image: Bigstock
Strength Seen in Eagle Bulk Shipping (EGLE): Can Its 6.6% Jump Turn into More Strength?
Eagle Bulk Shipping shares ended the last trading session 6.6% higher at $66.57. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.7% loss over the past four weeks.
The uptick is attributable to the overall optimism surrounding the shipping industry as economic activities gradually gather pace. Improved market sentiments surrounding the Drybulk market are aiding the stock. In fact shares of the company have performed brilliantly in a year's time, gaining 87.7%.
This shipping company is expected to post quarterly earnings of $3.96 per share in its upcoming report, which represents a year-over-year change of +371.4%. Revenues are expected to be $134.93 million, up 92.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Eagle Bulk Shipping, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EGLE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Eagle Bulk Shipping is part of the Zacks Transportation - Shipping industry. Hoegh LNG , another stock in the same industry, closed the last trading session 3.1% higher at $7.04. HMLP has returned 49.5% in the past month.
For Hoegh LNG, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. This represents a change of +5.3% from what the company reported a year ago. Hoegh LNG currently has a Zacks Rank of #2 (Buy).