Zacks Upgrades Star Bulk Carriers Corp. to Outperform (SBLK)
Star Bulk Carriers Corp. (NASDAQ:SBLK) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Tuesday. The firm currently has a $14.30 target price on the stock. Zacks‘s price objective indicates a potential upside of 5.54% from the stock’s previous close.
Star Bulk Carriers Corp. (NASDAQ:SBLK) traded down 0.37% on Tuesday, hitting $13.50. The stock had a trading volume of 87,135 shares. Star Bulk Carriers Corp. has a 1-year low of $7.72 and a 1-year high of $15.88. The stock’s 50-day moving average is $11.71 and its 200-day moving average is $12.3.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its earnings data on Wednesday, August 20th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.08. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, analysts predict that Star Bulk Carriers Corp. will post $0.39 earnings per share for the current fiscal year.
A number of other firms have also recently commented on SBLK. Analysts at MLV & Co
raised their price target on shares of Star Bulk Carriers Corp. from $16.00 to $19.00 in a research note on Thursday, August 21st. They now have a “buy” rating on the stock. Separately, analysts at Evercore Partners initiated coverage on shares of Star Bulk Carriers Corp. in a research note on Monday, August 18th. They set an “overweight” rating and a $16.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $16.33.
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.
To view Zacks’ full report, visit Zacks’ official website.
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