Brokerages expect that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce sales of $101.22 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Star Bulk Carriers’ earnings, with the highest sales estimate coming in at $104.51 million and the lowest estimate coming in at $97.94 million. Star Bulk Carriers reported sales of $63.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 60.1%. The company is scheduled to issue its next earnings report on Wednesday, February 28th.

On average, analysts expect that Star Bulk Carriers will report full-year sales of $101.22 million for the current year, with estimates ranging from $322.21 million to $328.78 million. For the next year, analysts anticipate that the company will report sales of $433.85 million per share, with estimates ranging from $428.94 million to $438.76 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Star Bulk Carriers.

SBLK has been the topic of a number of research analyst reports. Zacks Investment Research cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. TheStreet cut Star Bulk Carriers from a “c” rating to a “d+” rating in a report on Thursday, September 28th. Jefferies Group reissued a “buy” rating and issued a $15.00 price target on shares of Star Bulk Carriers in a report on Thursday, October 19th. Finally, Stifel Nicolaus set a $11.00 price objective on Star Bulk Carriers and gave the stock a “hold” rating in a report on Sunday, October 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.00.

Star Bulk Carriers (SBLK) traded down $0.30 during midday trading on Wednesday, reaching $11.82. The company had a trading volume of 237,612 shares, compared to its average volume of 466,843. The company has a current ratio of 6.93, a quick ratio of 6.93 and a debt-to-equity ratio of 0.96. Star Bulk Carriers has a one year low of $6.09 and a one year high of $13.40. The stock has a market cap of $777.54, a PE ratio of -6.32 and a beta of 2.73.

Several institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System raised its holdings in shares of Star Bulk Carriers by 10.8% during the 3rd quarter. California Public Employees Retirement System now owns 281,888 shares of the shipping company’s stock worth $2,737,000 after acquiring an additional 27,488 shares in the last quarter. Oaktree Capital Management LP raised its holdings in shares of Star Bulk Carriers by 0.4% during the 3rd quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock worth $316,347,000 after acquiring an additional 140,000 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Star Bulk Carriers by 6.9% during the 3rd quarter. Royce & Associates LP now owns 217,000 shares of the shipping company’s stock worth $2,107,000 after acquiring an additional 14,000 shares in the last quarter. Impala Asset Management LLC raised its holdings in shares of Star Bulk Carriers by 121.3% during the 3rd quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock worth $41,833,000 after acquiring an additional 2,361,428 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter worth approximately $1,105,000. 70.43% of the stock is currently owned by institutional investors and hedge funds.

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Star Bulk Carriers Company Profile

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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