Eagle Bulk Shipping closed at $44.75 in the latest trading session, marking a +1.52% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Heading into today, shares of the shipping company had lost 31.46% over the past month, lagging the Transportation sector's loss of 8.64% and the S&P 500's loss of 6.03% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release, which is expected to be August 4, 2022. In that report, analysts expect Eagle Bulk Shipping to post earnings of $4.17 per share. This would mark year-over-year growth of 58.56%. Our most recent consensus estimate is calling for quarterly revenue of $140.92 million, up 33.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.17 per share and revenue of $583.76 million. These totals would mark changes of +49.18% and +19.16%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. Eagle Bulk Shipping is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Eagle Bulk Shipping is currently trading at a Forward P/E ratio of 2.43. This valuation marks a discount compared to its industry's average Forward P/E of 2.98.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Eagle Bulk Shipping (EGLE) Gains As Market Dips: What You Should Know
Eagle Bulk Shipping closed at $44.75 in the latest trading session, marking a +1.52% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Heading into today, shares of the shipping company had lost 31.46% over the past month, lagging the Transportation sector's loss of 8.64% and the S&P 500's loss of 6.03% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release, which is expected to be August 4, 2022. In that report, analysts expect Eagle Bulk Shipping to post earnings of $4.17 per share. This would mark year-over-year growth of 58.56%. Our most recent consensus estimate is calling for quarterly revenue of $140.92 million, up 33.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.17 per share and revenue of $583.76 million. These totals would mark changes of +49.18% and +19.16%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Eagle Bulk Shipping. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. Eagle Bulk Shipping is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Eagle Bulk Shipping is currently trading at a Forward P/E ratio of 2.43. This valuation marks a discount compared to its industry's average Forward P/E of 2.98.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.