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Eagle Bulk Shipping (EGLE) Gains As Market Dips: What You Should Know

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Eagle Bulk Shipping (EGLE) closed at $44.80 in the latest trading session, marking a +0.54% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 0.28%.

Prior to today's trading, shares of the shipping company had lost 24.88% over the past month. This has lagged the Transportation sector's loss of 0.6% and the S&P 500's gain of 1.51% in that time.

Wall Street will be looking for positivity from Eagle Bulk Shipping as it approaches its next earnings report date. This 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $140.92 million, up 33.79% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.17 per share and revenue of $583.76 million. These totals would mark changes of +49.18% and +19.16%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. Eagle Bulk Shipping currently has a Zacks Rank of #3 (Hold).

Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 2.45. Its industry sports an average Forward P/E of 2.88, so we one might conclude that Eagle Bulk Shipping is trading at a discount comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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 Inc. (EGLE) : Free Stock Analysis Report
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