Star Bulk Carriers (SBLK) Gains As Market Dips: What You Should Know
Star Bulk Carriers (SBLK) closed at $23.20 in the latest trading session, marking a +0.48% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Coming into today, shares of the shipping company had gained 12.97% in the past month. In that same time, the Transportation sector gained 7.13%, while the S&P 500 gained 5.83%.
Investors will be hoping for strength from Star Bulk Carriers as it approaches its next earnings release, which is expected to be February 16, 2023. In that report, analysts expect Star Bulk Carriers to post earnings of $0.82 per share. This would mark a year-over-year decline of 72.3%. Our most recent consensus estimate is calling for quarterly revenue of $274.04 million, down 45.18% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Star Bulk Carriers. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 3.52% lower within the past month. Star Bulk Carriers is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Star Bulk Carriers is holding a Forward P/E ratio of 6.84. This represents a premium compared to its industry's average Forward P/E of 6.27.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report
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