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Increased Earnings Estimates Seen for Star Bulk Carriers (SBLK): Can It Move Higher?

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Star Bulk Carriers Corp. (SBLK - Free Report) is a transport ship company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SBLK’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Star Bulk Carriers could be a solid choice for investors.

Current Quarter Estimates for SBLK

In the past 30 days, 4 estimates have gone higher for Star Bulk Carriers while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 88 cents a share 30 days ago, to a loss of 76 cents per share today, a move of 13.6%.

Current Year Estimates for SBLK

Meanwhile, Agnico Eagle Mines’ current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $3.44 per share 30 days ago to a loss of $3.01 per share today, an increase of 12.5%.

STAR BULK CARRS Price and Consensus

STAR BULK CARRS Price and Consensus | STAR BULK CARRS Quote

Bottom Line

The stock has also started to move higher lately, adding 28.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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