In the latest trading session, Star Bulk Carriers (SBLK) closed at $17.05, marking a -0.06% move from the previous day. This change lagged the S&P 500's 0.4% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 10.86%.
Coming into today, shares of the shipping company had lost 5.38% in the past month. In that same time, the Transportation sector gained 6.32%, while the S&P 500 gained 3.98%.
Wall Street will be looking for positivity from Star Bulk Carriers as it approaches its next earnings report date. This is expected to be August 3, 2023. In that report, analysts expect Star Bulk Carriers to post earnings of $0.52 per share. This would mark a year-over-year decline of 74%. Meanwhile, our latest consensus estimate is calling for revenue of $227.59 million, down 45.47% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.13 per share and revenue of $974.74 million, which would represent changes of -64.14% and -32.18%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 17.73% lower. Star Bulk Carriers currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Star Bulk Carriers is currently trading at a Forward P/E ratio of 8. This represents a premium compared to its industry's average Forward P/E of 7.04.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
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