Eagle Bulk Shipping closed the most recent trading day at $44.88, moving -0.88% from the previous trading session. This move lagged the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the shipping company had lost 6.39% over the past month, outpacing the Transportation sector's loss of 12.44% and the S&P 500's loss of 10.24% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release. In that report, analysts expect Eagle Bulk Shipping to post earnings of $4.44 per share. This would mark a year-over-year decline of 9.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $127.49 million, down 16.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.36 per share and revenue of $548.54 million. These totals would mark changes of +42.53% and +11.97%, respectively, from last year.
Any recent changes to analyst estimates for Eagle Bulk Shipping should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. Eagle Bulk Shipping is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Eagle Bulk Shipping is currently trading at a Forward P/E ratio of 2.61. This represents a discount compared to its industry's average Forward P/E of 3.36.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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 EGLE in the coming trading sessions, be sure to utilize Zacks.com.
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Eagle Bulk Shipping (EGLE) Dips More Than Broader Markets: What You Should Know
Eagle Bulk Shipping closed the most recent trading day at $44.88, moving -0.88% from the previous trading session. This move lagged the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the shipping company had lost 6.39% over the past month, outpacing the Transportation sector's loss of 12.44% and the S&P 500's loss of 10.24% in that time.
Investors will be hoping for strength from Eagle Bulk Shipping as it approaches its next earnings release. In that report, analysts expect Eagle Bulk Shipping to post earnings of $4.44 per share. This would mark a year-over-year decline of 9.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $127.49 million, down 16.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.36 per share and revenue of $548.54 million. These totals would mark changes of +42.53% and +11.97%, respectively, from last year.
Any recent changes to analyst estimates for Eagle Bulk Shipping should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. Eagle Bulk Shipping is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Eagle Bulk Shipping is currently trading at a Forward P/E ratio of 2.61. This represents a discount compared to its industry's average Forward P/E of 3.36.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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 EGLE in the coming trading sessions, be sure to utilize Zacks.com.