Equities analysts predict that Star Bulk Carriers Corp. (NASDAQ:SBLK) will report earnings per share of $0.28 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Star Bulk Carriers’ earnings. The highest EPS estimate is $0.47 and the lowest is $0.09. Star Bulk Carriers posted earnings per share of $0.35 during the same quarter last year, which would indicate a negative year over year growth rate of 20%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 19th.
On average, analysts expect that Star Bulk Carriers will report full-year earnings of $0.22 per share for the current year, with EPS estimates ranging from ($0.13) to $0.57. For the next fiscal year, analysts expect that the firm will report earnings of $2.67 per share, with EPS estimates ranging from $2.64 to $2.70. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.09. The business had revenue of $157.79 million during the quarter, compared to the consensus estimate of $137.11 million. Star Bulk Carriers had a positive return on equity of 2.09% and a negative net margin of 0.99%.
A number of brokerages have recently commented on SBLK. ValuEngine raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, July 24th. Deutsche Bank set a $15.00 target price on Star Bulk Carriers and gave the company a “buy” rating in a report on Friday, May 24th. Finally, BidaskClub cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Star Bulk Carriers has an average rating of “Buy” and an average target price of $16.80.
Shares of NASDAQ:SBLK traded down $0.35 during midday trading on Monday, reaching $8.94. The company’s stock had a trading volume of 767,000 shares, compared to its average volume of 567,627. The firm has a market cap of $860.10 million, a price-to-earnings ratio of 8.05 and a beta of 1.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.34. Star Bulk Carriers has a 1 year low of $6.16 and a 1 year high of $15.38. The company’s 50 day moving average is $9.91.
A number of institutional investors have recently modified their holdings of SBLK. Two Sigma Advisers LP purchased a new stake in Star Bulk Carriers during the fourth quarter valued at about $301,000. Bank of America Corp DE lifted its stake in shares of Star Bulk Carriers by 1,084,750.0% in the fourth quarter. Bank of America Corp DE now owns 108,485 shares of the shipping company’s stock worth $992,000 after acquiring an additional 108,475 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Star Bulk Carriers in the fourth quarter worth about $123,000. Sippican Capital Advisors increased its holdings in Star Bulk Carriers by 13.2% in the first quarter. Sippican Capital Advisors now owns 18,178 shares of the shipping company’s stock valued at $120,000 after buying an additional 2,116 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Star Bulk Carriers by 18.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 67,700 shares of the shipping company’s stock valued at $445,000 after buying an additional 10,500 shares during the last quarter. Hedge funds and other institutional investors own 56.72% of the company’s stock.
About Star Bulk Carriers
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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.
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