Evercore Partners Initiates Coverage on Star Bulk Carriers Corp. (SBLK)
Investment analysts at Evercore Partners initiated coverage on shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in a note issued to investors on Monday. The firm set an “overweight” rating and a $16.00 price target on the stock. Evercore Partners’ price objective would indicate a potential upside of 26.28% from the company’s current price.
Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 12.67 on Monday. Star Bulk Carriers Corp. has a 1-year low of $6.54 and a 1-year high of $15.88. The stock has a 50-day moving average of $11.57 and a 200-day moving average of $12.29.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its earnings data on Thursday, May 29th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.02. The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $20.39 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Star Bulk Carriers Corp. will post $0.36 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Pareto Securities upgraded shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Separately, analysts at MLV & Co
raised their price target on shares of Star Bulk Carriers Corp. from $15.00 to $16.00 in a research note on Tuesday, June 17th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Star Bulk Carriers Corp. from $20.00 to $22.00 in a research note on Tuesday, June 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Star Bulk Carriers Corp. currently has an average rating of “Buy” and a consensus target price of $16.17.
Star Bulk Carriers Corp. (NASDAQ:SBLK) is an international company providing worldwide transportation of drybulk commodities through its vessel-owning subsidiaries for a broad range of customers of major and minor bulk cargoes including iron ore, coal, grain, cement and fertilizer.
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