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Star Bulk Carriers (SBLK) Soars 12.8%: Is Further Upside Left in the Stock?

·2 min read

Star Bulk Carriers (SBLK) shares ended the last trading session 12.8% higher at $21.01. 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 24.7% gain over the past four weeks.

The uptick is attributable to the overall optimism surrounding the shipping industry as economic activities gradually gather pace. In fact shares of the company have performed brilliantly so far this year, gaining 138%. The company's efforts to expand its fleet also contributed to the share price upsurge


Price and Consensus

Price Consensus Chart for SBLK
Price Consensus Chart for SBLK

This shipping company is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of +282.6%. Revenues are expected to be $213.71 million, up 32.9% 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 165.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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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