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Star Bulk Carriers (SBLK) Gains As Market Dips: What You Should Know

Star Bulk Carriers (SBLK) closed at $19.57 in the latest trading session, marking a +1.56% move from the prior day. This change outpaced the S&P 500's 0.46% loss on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 6.06%.

Heading into today, shares of the shipping company had lost 9.19% over the past month, lagging the Transportation sector's gain of 0.52% and the S&P 500's gain of 0.85% in that time.

Star Bulk Carriers will be looking to display strength as it nears its next earnings release, which is expected to be May 16, 2023. The company is expected to report EPS of $0.29, down 83.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $189.91 million, down 47.38% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.01 per share and revenue of $1 billion, which would represent changes of -49.33% and -30.17%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for Star Bulk Carriers. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 13.52% lower. Star Bulk Carriers is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Star Bulk Carriers has a Forward P/E ratio of 6.41 right now. This represents a premium compared to its industry's average Forward P/E of 6.02.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 114, which puts it in the top 46% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report

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Zacks Investment Research