Eagle Bulk Shipping closed at $44.82 in the latest trading session, marking a -1.73% move from the prior day. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the shipping company had gained 0.24% over the past month. This has outpaced the Transportation sector's loss of 5.63% and the S&P 500's loss of 7.36% in that time.
Eagle Bulk Shipping will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2022. On that day, Eagle Bulk Shipping is projected to report earnings of $5.58 per share, which would represent year-over-year growth of 55700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $152.49 million, up 174.3% from the year-ago period.
Any recent changes to analyst estimates for Eagle Bulk Shipping should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 4.24% lower within the past month. Eagle Bulk Shipping is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 3.59. For comparison, its industry has an average Forward P/E of 3.95, which means Eagle Bulk Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% 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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Eagle Bulk Shipping (EGLE) Stock Sinks As Market Gains: What You Should Know
Eagle Bulk Shipping closed at $44.82 in the latest trading session, marking a -1.73% move from the prior day. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the shipping company had gained 0.24% over the past month. This has outpaced the Transportation sector's loss of 5.63% and the S&P 500's loss of 7.36% in that time.
Eagle Bulk Shipping will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2022. On that day, Eagle Bulk Shipping is projected to report earnings of $5.58 per share, which would represent year-over-year growth of 55700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $152.49 million, up 174.3% from the year-ago period.
Any recent changes to analyst estimates for Eagle Bulk Shipping should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 4.24% lower within the past month. Eagle Bulk Shipping is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Eagle Bulk Shipping's current valuation metrics, including its Forward P/E ratio of 3.59. For comparison, its industry has an average Forward P/E of 3.95, which means Eagle Bulk Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% 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.