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

Eagle Bulk Shipping (EGLE) closed at $41.86 in the latest trading session, marking a -1.74% move from the prior day. This change lagged the S&P 500's daily gain of 1.97%. Elsewhere, the Dow gained 1.88%, while the tech-heavy Nasdaq added 0.25%.

Heading into today, shares of the shipping company had lost 0.12% over the past month, outpacing the Transportation sector's loss of 14.61% and the S&P 500's loss of 9.93% in that time.

Eagle Bulk Shipping will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $4.44, down 9.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $127.5 million, down 16.74% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $17.24 per share and revenue of $545.06 million, which would represent changes of +41.54% and +11.26%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.69% lower. Eagle Bulk Shipping is currently a Zacks Rank #5 (Strong Sell).

Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 2.47. This represents a discount compared to its industry's average Forward P/E of 3.08.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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.

To follow EGLE in the coming trading sessions, be sure to utilize Zacks.com.

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