Star Bulk Carriers Corp. (SBLK) Expected to Post Earnings of $0.22 Per Share

Equities analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report earnings per share (EPS) of $0.22 for the current quarter, Zacks reports. Two analysts have made estimates for Star Bulk Carriers’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.28. Star Bulk Carriers reported earnings of ($0.29) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 175.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.

On average, analysts expect that Star Bulk Carriers will report full-year earnings of ($0.19) per share for the current fiscal year, with EPS estimates ranging from ($0.25) to ($0.13). For the next fiscal year, analysts forecast that the company will report earnings of $0.66 per share, with EPS estimates ranging from ($0.26) to $1.54. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Sunday, November 19th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Star Bulk Carriers had a negative return on equity of 4.04% and a negative net margin of 23.09%. The firm had revenue of $80.80 million for the quarter, compared to the consensus estimate of $81.23 million.

SBLK has been the topic of several analyst reports. Zacks Investment Research downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Jefferies Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Star Bulk Carriers in a research report on Thursday, October 19th. BidaskClub downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus set a $11.00 price target on Star Bulk Carriers and gave the stock a “hold” rating in a research report on Sunday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.00.

A number of institutional investors and hedge funds have recently made changes to their positions in SBLK. Goldman Sachs Group Inc. grew its position in Star Bulk Carriers by 12.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 49,515 shares of the shipping company’s stock worth $487,000 after purchasing an additional 5,619 shares during the period. State Street Corp purchased a new stake in shares of Star Bulk Carriers during the 2nd quarter worth about $176,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Star Bulk Carriers during the 2nd quarter worth about $110,000. River & Mercantile Asset Management LLP boosted its stake in shares of Star Bulk Carriers by 5.7% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 315,819 shares of the shipping company’s stock worth $3,063,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Horseman Capital Management Ltd boosted its stake in shares of Star Bulk Carriers by 10.8% during the 3rd quarter. Horseman Capital Management Ltd now owns 954,600 shares of the shipping company’s stock worth $9,269,000 after acquiring an additional 93,400 shares in the last quarter. 70.49% of the stock is currently owned by institutional investors.

Star Bulk Carriers (NASDAQ:SBLK) traded up $0.40 during midday trading on Friday, hitting $10.81. The company had a trading volume of 618,441 shares, compared to its average volume of 502,507. The firm has a market cap of $693.49, a P/E ratio of -9.65 and a beta of 2.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.64 and a current ratio of 2.64. Star Bulk Carriers has a 52-week low of $7.57 and a 52-week high of $13.40.

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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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