Analysts Expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to Announce $0.28 Earnings Per Share

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.

Featured Article: Dow Jones Industrial Average (DJIA)

Get a free copy of the Zacks research report on Star Bulk Carriers (SBLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Star Bulk Carriers (NASDAQ:SBLK)

Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.