Why Star Bulk Carriers (SBLK) Dipped More Than Broader Market Today

Star Bulk Carriers (SBLK) closed the most recent trading day at $15.17, moving -1.3% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.76% for the day. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq lost 1.2%.Coming into today, shares of the shipping company had gained 0.99% in the past month. In that same time, the Transportation sector gained 5.97%, while the S&P 500 gained 2.71%.Investors will be eagerly watching for the performance of Star Bulk Carriers in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.45, reflecting a 38.36% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $291.96 million, indicating a 10.82% increase compared to the same quarter of the previous year.It's also important for investors to be aware of any recent modifications to analyst estimates for Star Bulk Carriers. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.04% higher within the past month. Star Bulk Carriers is currently sporting a Zacks Rank of #4 (Sell).With respect to valuation, Star Bulk Carriers is currently being traded at a Forward P/E ratio of 6.1. Its industry sports an average Forward P/E of 8.57, so one might conclude that Star Bulk Carriers is trading at a discount comparatively.The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 239, which puts it in the bottom 5% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Star Bulk Carriers Corp. (SBLK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks