Star Bulk Carriers (SBLK) Stock Sinks As Market Gains: What You Should Know
Star Bulk Carriers (SBLK) closed the most recent trading day at $22.11, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily gain of 1.1%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Coming into today, shares of the shipping company had gained 14.01% in the past month. In that same time, the Transportation sector gained 2.89%, while the S&P 500 gained 4.58%.
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 $0.82, down 72.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $274.04 million, down 45.18% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Star Bulk Carriers. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.95% lower within the past month. Star Bulk Carriers is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Star Bulk Carriers is currently trading at a Forward P/E ratio of 6.41. For comparison, its industry has an average Forward P/E of 4.85, which means Star Bulk Carriers is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
To follow SBLK in the coming trading sessions, be sure to utilize Zacks.com.
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.