Star Bulk Rises as Analysts Project Higher Earnings

Star Bulk Carriers shares rose 1.05% to $30.75 in the latest session, beating the S&P 500’s 0.73% gain. The stock’s move was smaller than the Nasdaq’s 1.19% advance, while the Dow added 0.49%.

Despite the day’s gain, shares have fallen 4.52% over the past month. That lagged the Transportation sector, down 3.02%, while the S&P 500 rose 0.55% over the same period.

The company’s upcoming results are drawing attention. Zacks consensus estimates call for quarterly earnings of $1.33 a share, up 375% from the year-earlier quarter, and revenue of $395.63 million, a 49.94% increase.

For the full fiscal year, Zacks estimates earnings of $4.53 per share and revenue of $1.44 billion, increases of 367.01% and 38.29%, respectively, from the prior year.

Zacks said its consensus estimate for quarterly earnings per share had risen 1.39% in the past 30 days. The article also put Star Bulk’s forward price-to-earnings ratio at 6.72, versus 9.66 for its industry.