Star Bulk Carriers Stock Rating Lowered by Zacks (SBLK)
Star Bulk Carriers (NASDAQ:SBLK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, AR Network reports. They currently have a $10.40 price objective on the stock. Zacks‘ target price suggests a potential upside of 30.00% from the stock’s previous close.
Shares of Star Bulk Carriers (NASDAQ:SBLK) traded up 3.00% during mid-day trading on Tuesday, hitting $8.24. 212,374 shares of the company’s stock traded hands. Star Bulk Carriers has a 1-year low of $5.28 and a 1-year high of $11.53. The stock’s 50-day moving average is $7.5 and its 200-day moving average is $6.42. The company’s market cap is $44.6 million.
Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.52. The company had revenue of $17.38 million for the quarter, compared to the consensus estimate of $14.71 million. During the same quarter in the previous year, the company posted ($0.90) earnings per share. Analysts expect that Star Bulk Carriers will post $0.54 EPS for the current fiscal year.
Separately, analysts at Global Hunter Securities upgraded shares of Star Bulk Carriers from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 4th. They now have a $10.00 price target on the stock.
Star Bulk Carriers Corp. (NASDAQ:SBLK) is an international company providing worldwide transportation of dry bulk commodities through its vessel-owning subsidiaries for a range of customers of major and minor bulk cargoes including iron ore, coal, grain, cement and fertilizer.
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