Star Bulk Carriers (SBLK) Laps the Stock Market: Here's Why
The latest trading session saw Star Bulk Carriers (SBLK) ending at $22.83, denoting a +1.11% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.82%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.95%.
Heading into today, shares of the shipping company had gained 9.61% over the past month, outpacing the Transportation sector's gain of 2.33% and the S&P 500's gain of 5.59% in that time.
The upcoming earnings release of Star Bulk Carriers will be of great interest to investors. The company's earnings report is expected on February 15, 2024. The company is expected to report EPS of $0.57, down 36.67% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $236.4 million, indicating a 19.81% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Star Bulk Carriers should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, there's been a 6.64% fall in the Zacks Consensus EPS estimate. Star Bulk Carriers presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Star Bulk Carriers is presently being traded at a Forward P/E ratio of 7.13. This indicates a premium in contrast to its industry's Forward P/E of 7.12.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report
