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Star Bulk Carriers (SBLK) Advances While Market Declines: Some Information for Investors
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Star Bulk Carriers (SBLK - Free Report) closed at $21.74 in the latest trading session, marking a +0.69% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
Coming into today, shares of the shipping company had gained 1.55% in the past month. In that same time, the Transportation sector lost 0.37%, while the S&P 500 gained 3.36%.
Market participants will be closely following the financial results of Star Bulk Carriers in its upcoming release. The company plans to announce its earnings on February 15, 2024. In that report, analysts expect Star Bulk Carriers to post earnings of $0.60 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $236.4 million, down 19.81% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Star Bulk Carriers. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.64% downward. Star Bulk Carriers currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Star Bulk Carriers is presently trading at a Forward P/E ratio of 6.82. For comparison, its industry has an average Forward P/E of 7.63, which means Star Bulk Carriers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Star Bulk Carriers (SBLK) Advances While Market Declines: Some Information for Investors
Star Bulk Carriers (SBLK - Free Report) closed at $21.74 in the latest trading session, marking a +0.69% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
Coming into today, shares of the shipping company had gained 1.55% in the past month. In that same time, the Transportation sector lost 0.37%, while the S&P 500 gained 3.36%.
Market participants will be closely following the financial results of Star Bulk Carriers in its upcoming release. The company plans to announce its earnings on February 15, 2024. In that report, analysts expect Star Bulk Carriers to post earnings of $0.60 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $236.4 million, down 19.81% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Star Bulk Carriers. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.64% downward. Star Bulk Carriers currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Star Bulk Carriers is presently trading at a Forward P/E ratio of 6.82. For comparison, its industry has an average Forward P/E of 7.63, which means Star Bulk Carriers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.