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Here's Why Star Bulk Carriers (SBLK) Fell More Than Broader Market
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In the latest close session, Star Bulk Carriers (SBLK - Free Report) was down 2.57% at $19.36. This change lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw a downswing of 0.38%, while the tech-heavy Nasdaq depreciated by 0.5%.
Shares of the shipping company witnessed a gain of 4.52% over the previous month, beating the performance of the Transportation sector with its loss of 2.03%, and the S&P 500's gain of 2.74%.
The upcoming earnings release of Star Bulk Carriers will be of great interest to investors. The company is forecasted to report an EPS of $0.35, showcasing a 50.7% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $276.05 million, down 19.82% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.04 per share and revenue of $1.05 billion. These totals would mark changes of -60.46% and -17.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Star Bulk Carriers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been no change in the Zacks Consensus EPS estimate. As of now, Star Bulk Carriers holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Star Bulk Carriers is currently exchanging hands at a Forward P/E ratio of 19.11. Its industry sports an average Forward P/E of 11.35, so one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why Star Bulk Carriers (SBLK) Fell More Than Broader Market
In the latest close session, Star Bulk Carriers (SBLK - Free Report) was down 2.57% at $19.36. This change lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw a downswing of 0.38%, while the tech-heavy Nasdaq depreciated by 0.5%.
Shares of the shipping company witnessed a gain of 4.52% over the previous month, beating the performance of the Transportation sector with its loss of 2.03%, and the S&P 500's gain of 2.74%.
The upcoming earnings release of Star Bulk Carriers will be of great interest to investors. The company is forecasted to report an EPS of $0.35, showcasing a 50.7% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $276.05 million, down 19.82% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.04 per share and revenue of $1.05 billion. These totals would mark changes of -60.46% and -17.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Star Bulk Carriers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been no change in the Zacks Consensus EPS estimate. As of now, Star Bulk Carriers holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Star Bulk Carriers is currently exchanging hands at a Forward P/E ratio of 19.11. Its industry sports an average Forward P/E of 11.35, so one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.