-$0.10 EPS Expected for Star Bulk Carriers Corp. (SBLK) This Quarter
Equities analysts forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post earnings of ($0.10) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Star Bulk Carriers Corp.’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.16). Star Bulk Carriers Corp. posted earnings of ($0.73) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 86.3%. The company is scheduled to report its next earnings report after the market closes on Tuesday, August 8th.
On average, analysts expect that Star Bulk Carriers Corp. will report full year earnings of ($0.37) per share for the current year, with EPS estimates ranging from ($0.84) to $0.01. For the next fiscal year, analysts forecast that the business will post earnings of $0.81 per share, with EPS estimates ranging from ($0.26) to $2.11. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Star Bulk Carriers Corp..
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its earnings results on Wednesday, May 24th. The shipping company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. The company had revenue of $64.87 million during the quarter, compared to analysts’ expectations of $64.27 million. Star Bulk Carriers Corp. had a negative return on equity of 7.89% and a negative net margin of 50.28%.
SBLK has been the topic of several recent analyst reports. Seaport Global Securities raised Star Bulk Carriers Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.50 to $13.00 in a research report on Friday, May 26th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Star Bulk Carriers Corp. in a research report on Friday, May 26th. Zacks Investment Research raised Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, April 26th. Stifel Nicolaus set a $11.00 price target on Star Bulk Carriers Corp. and gave the stock a “hold” rating in a research report on Sunday, May 28th. Finally, Morgan Stanley raised Star Bulk Carriers Corp. from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $3.00 to $15.00 in a research report on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Star Bulk Carriers Corp. presently has an average rating of “Buy” and a consensus price target of $12.50.
Star Bulk Carriers Corp. (NASDAQ SBLK) traded down 2.76% during trading on Wednesday, hitting $9.86. The stock had a trading volume of 105,273 shares. The company’s 50-day moving average is $9.14 and its 200 day moving average is $9.29. The firm’s market cap is $601.73 million. Star Bulk Carriers Corp. has a 52 week low of $3.84 and a 52 week high of $13.40.
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Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of Star Bulk Carriers Corp. during the first quarter valued at $1,529,000. Renaissance Technologies LLC raised its stake in shares of Star Bulk Carriers Corp. by 174.2% in the fourth quarter. Renaissance Technologies LLC now owns 172,980 shares of the shipping company’s stock valued at $884,000 after buying an additional 109,886 shares during the last quarter. Investment Centers of America Inc. purchased a new stake in shares of Star Bulk Carriers Corp. during the first quarter valued at $118,000. Leucadia National Corp purchased a new stake in shares of Star Bulk Carriers Corp. during the first quarter valued at $351,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Star Bulk Carriers Corp. during the first quarter valued at $201,000. 74.03% of the stock is currently owned by institutional investors.
About Star Bulk Carriers Corp.
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
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