Star Bulk Carriers Corp. (NASDAQ:SBLK) – Equities researchers at Jefferies Financial Group decreased their FY2018 earnings estimates for Star Bulk Carriers in a report released on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will post earnings per share of $1.21 for the year, down from their previous forecast of $1.51. Jefferies Financial Group also issued estimates for Star Bulk Carriers’ Q4 2018 earnings at $0.45 EPS and FY2019 earnings at $1.73 EPS.
A number of other brokerages also recently issued reports on SBLK. Stifel Nicolaus lifted their price target on shares of Star Bulk Carriers from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, August 30th. BidaskClub upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Zacks Investment Research downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. ValuEngine downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, Seaport Global Securities restated a “buy” rating and issued a $20.00 target price on shares of Star Bulk Carriers in a report on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Star Bulk Carriers presently has an average rating of “Hold” and an average price target of $16.71.
Shares of NASDAQ SBLK opened at $12.15 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59. The firm has a market capitalization of $780.56 million, a price-to-earnings ratio of 18.08 and a beta of 2.41. Star Bulk Carriers has a 52-week low of $8.62 and a 52-week high of $15.38.
Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $132.60 million for the quarter, compared to the consensus estimate of $122.37 million. Star Bulk Carriers had a net margin of 8.39% and a return on equity of 3.73%.
Institutional investors have recently bought and sold shares of the company. Atlantic Trust Group LLC increased its holdings in shares of Star Bulk Carriers by 79.0% in the 1st quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock worth $109,000 after buying an additional 4,132 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Star Bulk Carriers in the 2nd quarter worth about $142,000. Cubist Systematic Strategies LLC bought a new stake in shares of Star Bulk Carriers in the 1st quarter worth about $180,000. FNY Investment Advisers LLC bought a new stake in shares of Star Bulk Carriers in the 3rd quarter worth about $285,000. Finally, Paloma Partners Management Co increased its holdings in shares of Star Bulk Carriers by 27.8% in the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock worth $418,000 after buying an additional 7,074 shares during the last quarter. Hedge funds and other institutional investors own 68.00% of the company’s stock.
About Star Bulk Carriers
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of August 29, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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