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Star Bulk Carriers (SBLK) Gains As Market Dips: What You Should Know
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In the latest trading session, Star Bulk Carriers (SBLK - Free Report) closed at $23.09, marking a +1.63% move from the previous day. This change outpaced the S&P 500's 1.11% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Heading into today, shares of the shipping company had gained 10.02% over the past month, outpacing the Transportation sector's gain of 7.86% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Star Bulk Carriers as it approaches its next earnings report date. This is expected to be February 16, 2023. On that day, Star Bulk Carriers is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 72.3%. Our most recent consensus estimate is calling for quarterly revenue of $274.04 million, down 45.18% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Star Bulk Carriers. 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.
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. The Zacks Consensus EPS estimate has moved 3.52% lower within the past month. Star Bulk Carriers is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Star Bulk Carriers has a Forward P/E ratio of 6.73 right now. Its industry sports an average Forward P/E of 6.29, so we one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SBLK in the coming trading sessions, be sure to utilize Zacks.com.
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Star Bulk Carriers (SBLK) Gains As Market Dips: What You Should Know
In the latest trading session, Star Bulk Carriers (SBLK - Free Report) closed at $23.09, marking a +1.63% move from the previous day. This change outpaced the S&P 500's 1.11% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Heading into today, shares of the shipping company had gained 10.02% over the past month, outpacing the Transportation sector's gain of 7.86% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Star Bulk Carriers as it approaches its next earnings report date. This is expected to be February 16, 2023. On that day, Star Bulk Carriers is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 72.3%. Our most recent consensus estimate is calling for quarterly revenue of $274.04 million, down 45.18% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Star Bulk Carriers. 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.
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. The Zacks Consensus EPS estimate has moved 3.52% lower within the past month. Star Bulk Carriers is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Star Bulk Carriers has a Forward P/E ratio of 6.73 right now. Its industry sports an average Forward P/E of 6.29, so we one might conclude that Star Bulk Carriers is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SBLK in the coming trading sessions, be sure to utilize Zacks.com.