Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $93.92 Million
Wall Street brokerages forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post $93.92 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Star Bulk Carriers’ earnings. The lowest sales estimate is $79.30 million and the highest is $104.51 million. Star Bulk Carriers posted sales of $63.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 48.5%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Star Bulk Carriers will report full-year sales of $93.92 million for the current year, with estimates ranging from $254.20 million to $328.78 million. For the next financial year, analysts forecast that the firm will post sales of $381.27 million per share, with estimates ranging from $276.10 million to $438.76 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Star Bulk Carriers.
Several analysts have issued reports on SBLK shares. TheStreet raised shares of Star Bulk Carriers from a “d+” rating to a “c” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Pareto Securities upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Jefferies Group restated a “buy” rating and issued a $15.00 price target on shares of Star Bulk Carriers in a research note on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.00.
Shares of Star Bulk Carriers (NASDAQ:SBLK) remained flat at $$10.68 during trading hours on Thursday. The company had a trading volume of 458,200 shares, compared to its average volume of 578,885. Star Bulk Carriers has a 1-year low of $4.63 and a 1-year high of $13.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 6.93 and a current ratio of 6.93.
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About Star Bulk Carriers
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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