Why the Market Dipped But Star Bulk Carriers (SBLK) Gained Today

Star Bulk Carriers (SBLK) closed the most recent trading day at $25.70, moving +0.12% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.02%. Meanwhile, the Dow experienced a drop of 0.21%, and the technology-dominated Nasdaq saw an increase of 0.29%.

The shipping company's stock has climbed by 11.17% in the past month, exceeding the Transportation sector's gain of 0.29% and the S&P 500's gain of 1.29%.

The investment community will be closely monitoring the performance of Star Bulk Carriers in its forthcoming earnings report. The company is forecasted to report an EPS of $0.88, showcasing a 144.44% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $265.74 million, up 18.61% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $4.19 per share and a revenue of $1.27 billion, demonstrating changes of +127.72% and +33.48%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Star Bulk Carriers. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.86% downward. Star Bulk Carriers presently features a Zacks Rank of #3 (Hold).

From a valuation perspective, Star Bulk Carriers is currently exchanging hands at a Forward P/E ratio of 6.13. This expresses a discount compared to the average Forward P/E of 8.32 of its industry.

The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Buy 5 Stocks BEFORE Election Day

Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).

Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.

They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S. 

Don’t Wait. Download FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.