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Star Bulk Carriers (SBLK) Surpasses Market Returns: Some Facts Worth Knowing

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Star Bulk Carriers (SBLK - Free Report) closed the latest trading day at $18.93, indicating a +0.75% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.

Shares of the shipping company witnessed a loss of 5.2% over the previous month, trailing the performance of the Transportation sector with its loss of 0.83% and the S&P 500's gain of 3.08%.

Investors will be eagerly watching for the performance of Star Bulk Carriers in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 13, 2023. It is anticipated that the company will report an EPS of $0.17, marking an 87.22% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $191.37 million, indicating a 47.45% downward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.02 per share and revenue of $922.04 million, indicating changes of -65.99% and -35.84%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Star Bulk Carriers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.51% higher. At present, Star Bulk Carriers boasts a Zacks Rank of #2 (Buy).

From a valuation perspective, Star Bulk Carriers is currently exchanging hands at a Forward P/E ratio of 9.29. This indicates a premium in contrast to its industry's Forward P/E of 7.22.

The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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