Eagle Bulk Shipping closed at $49.47 in the latest trading session, marking a -0.36% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.24%.
Prior to today's trading, shares of the shipping company had gained 8.52% over the past month. This has outpaced the Transportation sector's loss of 10.84% and the S&P 500's loss of 6.51% 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 November 3, 2022. On that day, Eagle Bulk Shipping is projected to report earnings of $4.31 per share, which would represent a year-over-year decline of 12.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.63 million, down 11.42% from the year-ago period.
EGLE's full-year Zacks Consensus Estimates are calling for earnings of $16.42 per share and revenue of $546.06 million. These results would represent year-over-year changes of +34.81% and +11.47%, respectively.
Investors should also note any recent changes to analyst estimates for Eagle Bulk Shipping. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 4.19% lower. Eagle Bulk Shipping is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Eagle Bulk Shipping is holding a Forward P/E ratio of 3.02. Its industry sports an average Forward P/E of 3.21, so we one might conclude that Eagle Bulk Shipping is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Eagle Bulk Shipping (EGLE) Stock Moves -0.36%: What You Should Know
Eagle Bulk Shipping closed at $49.47 in the latest trading session, marking a -0.36% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.24%.
Prior to today's trading, shares of the shipping company had gained 8.52% over the past month. This has outpaced the Transportation sector's loss of 10.84% and the S&P 500's loss of 6.51% 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 November 3, 2022. On that day, Eagle Bulk Shipping is projected to report earnings of $4.31 per share, which would represent a year-over-year decline of 12.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.63 million, down 11.42% from the year-ago period.
EGLE's full-year Zacks Consensus Estimates are calling for earnings of $16.42 per share and revenue of $546.06 million. These results would represent year-over-year changes of +34.81% and +11.47%, respectively.
Investors should also note any recent changes to analyst estimates for Eagle Bulk Shipping. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 4.19% lower. Eagle Bulk Shipping is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Eagle Bulk Shipping is holding a Forward P/E ratio of 3.02. Its industry sports an average Forward P/E of 3.21, so we one might conclude that Eagle Bulk Shipping is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.