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In the latest trading session, Eagle Bulk Shipping (EGLE) closed at $45.25, marking a +0.96% move from the previous day. This change outpaced the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 0.13%.
Heading into today, shares of the shipping company had gained 7.22% over the past month, outpacing the Transportation sector's gain of 2.52% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release. In that report, analysts expect Eagle Bulk Shipping to post earnings of $5.49 per share. This would mark year-over-year growth of 54800%. Our most recent consensus estimate is calling for quarterly revenue of $153.01 million, up 175.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Eagle Bulk Shipping is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Eagle Bulk Shipping currently has a Forward P/E ratio of 3.38. This valuation marks a discount compared to its industry's average Forward P/E of 3.66.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Eagle Bulk Shipping Inc. (EGLE) : Free Stock Analysis Report
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