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Eagle Bulk Shipping (EGLE) Gains But Lags Market: What You Should Know

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Eagle Bulk Shipping (EGLE) closed at $51.54 in the latest trading session, marking a +0.04% move from the prior day. The stock lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.07%.

Prior to today's trading, shares of the shipping company had lost 9.9% over the past month. This has lagged the Transportation sector's gain of 5.55% and the S&P 500's gain of 7.25% in that time.

Eagle Bulk Shipping will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. The company is expected to report EPS of $4.17, up 58.56% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $140.92 million, up 33.79% from the year-ago period.

EGLE's full-year Zacks Consensus Estimates are calling for earnings of $18.17 per share and revenue of $583.76 million. These results would represent year-over-year changes of +49.18% and +19.16%, respectively.

Investors should also note any recent changes to analyst estimates for Eagle Bulk Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Eagle Bulk Shipping is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 2.83. This valuation marks a discount compared to its industry's average Forward P/E of 3.17.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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