Wall Street brokerages forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will report $196.88 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Star Bulk Carriers’ earnings, with the highest sales estimate coming in at $197.77 million and the lowest estimate coming in at $195.99 million. Star Bulk Carriers posted sales of $80.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 143.7%. The company is expected to report its next earnings results on Monday, November 19th.
On average, analysts expect that Star Bulk Carriers will report full year sales of $681.80 million for the current year, with estimates ranging from $672.43 million to $691.16 million. For the next fiscal year, analysts forecast that the company will post sales of $878.31 million, with estimates ranging from $872.83 million to $883.79 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. The firm had revenue of $132.60 million for the quarter, compared to analyst estimates of $122.37 million.
A number of brokerages have recently weighed in on SBLK. BidaskClub raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. set a $20.00 target price on Star Bulk Carriers and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Stifel Nicolaus upped their target price on Star Bulk Carriers from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, ValuEngine lowered Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Star Bulk Carriers presently has an average rating of “Buy” and an average target price of $16.71.
Large investors have recently modified their holdings of the company. Atlantic Trust Group LLC grew its holdings in Star Bulk Carriers by 79.0% during the first quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock worth $109,000 after buying an additional 4,132 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Star Bulk Carriers during the second quarter worth $142,000. Jump Trading LLC bought a new stake in Star Bulk Carriers during the first quarter worth $128,000. Cubist Systematic Strategies LLC bought a new stake in Star Bulk Carriers during the first quarter worth $180,000. Finally, Quadrature Capital Ltd bought a new stake in Star Bulk Carriers during the first quarter worth $241,000. 71.37% of the stock is currently owned by institutional investors.
Shares of NASDAQ:SBLK traded up $0.32 during trading on Monday, reaching $13.39. 9,308 shares of the stock were exchanged, compared to its average volume of 311,687. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. Star Bulk Carriers has a 1-year low of $8.62 and a 1-year high of $14.60. The firm has a market capitalization of $840.40 million, a price-to-earnings ratio of -59.68 and a beta of 2.52.
Star Bulk Carriers Company Profile
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of August 29, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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