Star Bulk Carriers SBLK Stock Sinks as Market Gains: What you Should Know
Star Bulk Carriers SBLK closed at $20.44 during the most recent trading session. This represents a -1.02% increase from the previous day. This move lagged the S&P 500’s daily gain of 1.29%. The Dow gained 0.8% while the tech-heavy Nasdaq gained 10.96%.
Today’s closing bell saw shares of the shipping company gain 3.04% over the previous month. In that same time, the Transportation sector gained 1.39%, while the S&P 500 lost 0.23%.
Wall Street will be watching Star Bulk Carriers for signs of positivity as it nears its next earnings report date. The company is expected report EPS $0.97, a 67.23% decrease from the prior year quarter. Meanwhile, net sales are projected to be $301.15 million by Zacks Consensus estimate for revenue, down 39.75% compared to the year-ago period.
Investors should note any recent changes to the analyst estimates for Star Bulk Carriers. Recent revisions reflect the most recent near-term business trends. We can therefore interpret positive revisions of estimates as a positive sign for the company’s business outlook.
Research shows that these revisions in estimates are directly linked to near-term share market momentum. This is why we created the Zacks Rank. A proprietary model that incorporates these estimates changes and provides an actionable rating system.
The Zacks Rank system is ranked from #1 (Strong Buy), to #5 (Strong Sell). It boasts an extraordinary, outside-audited track history of success with #1 stocks returning an average annual return in excess of +25% every year since 1988. Within the last month, the Zacks Consensus EPS estimate moved 1.45% higher. Star Bulk Carriers currently ranks #3 in the Zacks Consensus EPS estimates (Hold).
Investors should also take note of Star Bulk Carriers’ current valuation metrics, including its Forward Price to Earn ratio of 5.9. This premium is higher than the industry average Forward P/E ratio of 5.31.
Transportation includes the Shipping and Transportation industries. The current Zacks Industry Rank for this industry is 46. This puts it in the top 19% among all 250+ industries.
The Zacks Industry Rank gauges industry strength by measuring the average Zacks Rank for individual stocks within each group. Our research shows that the top 50 percent of industries are more profitable than the bottom half, by a factor between 2 and 1.
Follow these stock-moving metrics and many others on Zacks.com.
Want the most recent Zacks Investment Research recommendations? You can now download 7 Best Stocks to Watch in the Next 30 days. Click to get this free report
Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report