Morgan Stanley Cuts Star Bulk Carriers (SBLK) Price Target to $14.00

Star Bulk Carriers (NASDAQ:SBLK) had its price objective cut by Morgan Stanley from $15.00 to $14.00 in a note issued to investors on Monday. The firm presently has an “overweight” rating on the shipping company’s stock. Morgan Stanley’s target price would suggest a potential upside of 29.51% from the stock’s current price.

A number of other brokerages have also recently issued reports on SBLK. Zacks Investment Research cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Friday, January 26th. BidaskClub cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Jefferies Group assumed coverage on Star Bulk Carriers in a report on Monday, December 18th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Stifel Nicolaus set a $11.00 target price on Star Bulk Carriers and gave the stock a “hold” rating in a report on Sunday, October 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Star Bulk Carriers currently has a consensus rating of “Buy” and an average target price of $12.83.

Star Bulk Carriers (NASDAQ SBLK) traded up $0.40 on Monday, reaching $10.81. The company had a trading volume of 618,400 shares, compared to its average volume of 489,152. Star Bulk Carriers has a 12-month low of $7.57 and a 12-month high of $13.40. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.90. The firm has a market cap of $693.49, a PE ratio of -9.65 and a beta of 2.61.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly 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). The company had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $81.23 million. Star Bulk Carriers had a negative return on equity of 4.04% and a negative net margin of 23.09%. equities analysts predict that Star Bulk Carriers will post -0.33 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its position in shares of Star Bulk Carriers by 12.4% in the fourth quarter. Royce & Associates LP now owns 244,000 shares of the shipping company’s stock worth $2,747,000 after buying an additional 27,000 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth $145,000. River & Mercantile Asset Management LLP boosted its position in shares of Star Bulk Carriers by 20.0% in the fourth quarter. River & Mercantile Asset Management LLP now owns 379,099 shares of the shipping company’s stock worth $4,263,000 after buying an additional 63,280 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth $4,176,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth $272,000. 70.88% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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