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Eagle Bulk Shipping (EGLE) Outpaces Stock Market Gains: What You Should Know

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Eagle Bulk Shipping (EGLE) closed at $51.50 in the latest trading session, marking a +0.74% move from the prior day. This move outpaced the S&P 500's daily gain of 0.13%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.04%.

Prior to today's trading, shares of the shipping company had gained 3.73% over the past month. This has lagged the Transportation sector's gain of 4.15% and the S&P 500's gain of 5.55% 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. On that day, Eagle Bulk Shipping is projected to report earnings of $4.17 per share, which would represent year-over-year growth of 58.56%. Meanwhile, our latest consensus estimate is calling for revenue of $140.92 million, up 33.79% from the prior-year quarter.

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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Eagle Bulk Shipping is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Eagle Bulk Shipping has a Forward P/E ratio of 2.81 right now. This valuation marks a discount compared to its industry's average Forward P/E of 3.22.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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