Eagle Bulk Shipping (EGLE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Eagle Bulk Shipping (EGLE) closed at $63.80, marking a -0.05% move from the previous day. This change lagged the S&P 500's 2.48% gain on the day. Elsewhere, the Dow gained 1.85%, while the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the shipping company had lost 4.4% in the past month. In that same time, the Transportation sector lost 10.06%, while the S&P 500 lost 7.81%.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release, which is expected to be May 5, 2022. In that report, analysts expect Eagle Bulk Shipping to post earnings of $3.96 per share. This would mark year-over-year growth of 371.43%. Meanwhile, our latest consensus estimate is calling for revenue of $134.93 million, up 92.87% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.26 per share and revenue of $523.54 million. These totals would mark changes of +33.5% and +6.87%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Eagle Bulk Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Eagle Bulk Shipping currently has a Zacks Rank of #2 (Buy).
Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 3.92. For comparison, its industry has an average Forward P/E of 4.61, which means Eagle Bulk Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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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