Star Bulk Carriers (SBLK) Stock Moves -1.23%: What You Should Know
Star Bulk Carriers (SBLK) closed the most recent trading day at $26.51, moving -1.23% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.25%. At the same time, the Dow lost 2.42%, and the tech-heavy Nasdaq lost 0.48%.
Coming into today, shares of the shipping company had lost 12.43% in the past month. In that same time, the Transportation sector lost 5.31%, while the S&P 500 lost 5.62%.
Wall Street will be looking for positivity from Star Bulk Carriers as it approaches its next earnings report date. On that day, Star Bulk Carriers is projected to report earnings of $1.97 per share, which would represent year-over-year growth of 56.35%. Our most recent consensus estimate is calling for quarterly revenue of $399.78 million, up 28.38% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.46 per share and revenue of $1.5 billion, which would represent changes of +9.38% and +5.35%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Star Bulk Carriers. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 19.89% higher within the past month. Star Bulk Carriers is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Star Bulk Carriers has a Forward P/E ratio of 3.6 right now. For comparison, its industry has an average Forward P/E of 3.76, which means Star Bulk Carriers 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 24, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SBLK in the coming trading sessions, be sure to utilize Zacks.com.
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