Star Bulk Carriers (SBLK) closed at $18.12 in the latest trading session, marking a -0.93% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq lost 4.09%.
Prior to today's trading, shares of the shipping company had lost 1.93% over the past month. This has lagged the Transportation sector's gain of 1.53% and the S&P 500's gain of 3.98% in that time.
Investors will be hoping for strength from Star Bulk Carriers as it approaches its next earnings release. The company is expected to report EPS of $0.63, down 68.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $242.95 million, down 41.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.59 per share and revenue of $1.04 billion, which would represent changes of -56.4% and -27.53%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Star Bulk Carriers. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 11.12% lower. Star Bulk Carriers is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Star Bulk Carriers is holding a Forward P/E ratio of 7.07. Its industry sports an average Forward P/E of 6.11, so we one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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