Equities research analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to announce earnings of $0.16 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Star Bulk Carriers’ earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.03. Star Bulk Carriers reported earnings of $0.35 per share during the same quarter last year, which indicates a negative year over year growth rate of 54.3%. The company is scheduled to announce its next earnings report on Tuesday, November 19th.
On average, analysts expect that Star Bulk Carriers will report full year earnings of $0.14 per share for the current year, with EPS estimates ranging from ($0.06) to $0.33. For the next year, analysts anticipate that the business will post earnings of $2.58 per share, with EPS estimates ranging from $2.55 to $2.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Wednesday, August 7th. The shipping company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.09. The company had revenue of $157.79 million for the quarter, compared to the consensus estimate of $137.11 million. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.09%.
A number of brokerages recently weighed in on SBLK. Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday. TheStreet downgraded shares of Star Bulk Carriers from a “c-” rating to a “d” rating in a report on Friday, August 9th. BidaskClub raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, ValuEngine raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Star Bulk Carriers currently has an average rating of “Buy” and a consensus target price of $13.50.
A number of institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP raised its stake in Star Bulk Carriers by 5.7% in the 2nd quarter. Oaktree Capital Management LP now owns 37,413,697 shares of the shipping company’s stock valued at $361,043,000 after acquiring an additional 2,029,500 shares during the period. Impala Asset Management LLC raised its stake in Star Bulk Carriers by 4.9% in the 2nd quarter. Impala Asset Management LLC now owns 3,810,325 shares of the shipping company’s stock valued at $36,770,000 after acquiring an additional 178,799 shares during the period. Renaissance Technologies LLC raised its stake in Star Bulk Carriers by 7.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,993,426 shares of the shipping company’s stock valued at $19,237,000 after acquiring an additional 145,000 shares during the period. Marshall Wace LLP raised its stake in Star Bulk Carriers by 14.0% in the 1st quarter. Marshall Wace LLP now owns 858,508 shares of the shipping company’s stock valued at $5,649,000 after acquiring an additional 105,185 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in Star Bulk Carriers by 7.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 233,826 shares of the shipping company’s stock valued at $2,256,000 after acquiring an additional 15,212 shares during the period. Institutional investors and hedge funds own 56.72% of the company’s stock.
Shares of NASDAQ:SBLK traded down $0.22 during midday trading on Friday, reaching $11.09. The company had a trading volume of 1,153,613 shares, compared to its average volume of 452,776. The company’s 50 day moving average price is $10.43 and its 200 day moving average price is $9.08. The stock has a market cap of $1.02 billion, a P/E ratio of 9.99 and a beta of 1.61. Star Bulk Carriers has a 52-week low of $6.16 and a 52-week high of $14.45.
Star Bulk Carriers Company Profile
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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.
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