Star Bulk Carriers (SBLK) Stock Sinks As Market Gains: What You Should Know
Star Bulk Carriers (SBLK) closed at $20.44 in the latest trading session, marking a -1.02% move from the prior day. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Coming into today, shares of the shipping company had gained 3.04% in the past month. In that same time, the Transportation sector gained 1.39%, while the S&P 500 lost 0.23%.
Wall Street will be looking for positivity from Star Bulk Carriers as it approaches its next earnings report date. The company is expected to report EPS of $0.97, down 67.23% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $301.15 million, down 39.75% from the year-ago period.
Any recent changes to analyst estimates for Star Bulk Carriers should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.45% higher within the past month. Star Bulk Carriers is currently a Zacks Rank #3 (Hold).
Investors should also note Star Bulk Carriers's current valuation metrics, including its Forward P/E ratio of 5.9. This represents a premium compared to its industry's average Forward P/E of 5.31.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report
