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Star Bulk Carriers (SBLK) Moves 6.3% Higher: Will This Strength Last?

·2 min read

Star Bulk Carriers (SBLK) shares ended the last trading session 6.3% higher at $14.60. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.2% gain over the past four weeks.

In fact, shares of Star Bulk Carriers have been displaying an uptrend of late, gaining 3% over the past week, driven by the company’s efforts to expand its fleet. Notably, this dry-bulk shipping company entered into an agreement on Mar 3 to acquire two resale modern Kamsarmax vessels.


Price and Consensus

Price Consensus Chart for Star Bulk Carriers
Price Consensus Chart for Star Bulk Carriers

This shipping company is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of +265.2%. Revenues are expected to be $212.2 million, up 31.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Star Bulk Carriers, the consensus EPS estimate for the quarter has been revised 15.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SBLK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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