Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $107.10 Million

Equities research analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to post sales of $107.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Star Bulk Carriers’ earnings, with the highest sales estimate coming in at $107.98 million and the lowest estimate coming in at $106.21 million. Star Bulk Carriers posted sales of $63.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 69.4%. The company is scheduled to announce its next earnings results on Wednesday, February 28th.

On average, analysts expect that Star Bulk Carriers will report full-year sales of $107.10 million for the current year, with estimates ranging from $330.48 million to $332.25 million. For the next financial year, analysts expect that the firm will report sales of $448.53 million per share, with estimates ranging from $423.41 million to $473.65 million. Zacks’ sales averages are an average based on a survey of analysts that cover Star Bulk Carriers.

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

A number of brokerages have issued reports on SBLK. BidaskClub raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Tuesday. Morgan Stanley cut their target price on shares of Star Bulk Carriers from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday. Zacks Investment Research cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Jefferies Group reissued a “buy” rating and issued a $15.00 target price on shares of Star Bulk Carriers in a report on Thursday, October 19th. Finally, Stifel Nicolaus set a $11.00 target price on shares of Star Bulk Carriers and gave the stock a “hold” rating in a report on Sunday, October 22nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $12.83.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oaktree Capital Management LP raised its holdings in shares of Star Bulk Carriers by 0.4% during the third quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock valued at $316,347,000 after buying an additional 140,000 shares during the last quarter. River & Mercantile Asset Management LLP increased its stake in shares of Star Bulk Carriers by 5.7% during the third quarter. River & Mercantile Asset Management LLP now owns 315,819 shares of the shipping company’s stock valued at $3,063,000 after acquiring an additional 17,000 shares during the period. BT Investment Management Ltd acquired a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $809,000. Fox Run Management L.L.C. acquired a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $272,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $1,105,000. 70.88% of the stock is currently owned by institutional investors.

Star Bulk Carriers (SBLK) opened at $11.19 on Tuesday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.90. Star Bulk Carriers has a twelve month low of $7.57 and a twelve month high of $13.40. The stock has a market cap of $693.49, a PE ratio of -9.99 and a beta of 2.61.

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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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