Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price rose 6.3% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $10.94 and last traded at $10.68, approximately 956,500 shares were traded during mid-day trading. An increase of 64% from the average daily volume of 581,856 shares. The stock had previously closed at $10.05.
The shipping company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.12%. The company had revenue of $248.44 million during the quarter, compared to analyst estimates of $215.35 million.
SBLK has been the subject of a number of analyst reports. Pareto Securities lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. BidaskClub lowered shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. ValuEngine lowered shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research report on Tuesday. TheStreet lowered shares of Star Bulk Carriers from a “c-” rating to a “d” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Star Bulk Carriers has a consensus rating of “Hold” and an average target price of $13.50.
A number of institutional investors and hedge funds have recently made changes to their positions in SBLK. Marshall Wace North America L.P. purchased a new stake in Star Bulk Carriers in the first quarter valued at approximately $47,000. Sippican Capital Advisors raised its stake in Star Bulk Carriers by 14.1% in the second quarter. Sippican Capital Advisors now owns 20,735 shares of the shipping company’s stock valued at $200,000 after purchasing an additional 2,557 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Star Bulk Carriers in the second quarter valued at approximately $109,000. SG Americas Securities LLC purchased a new stake in Star Bulk Carriers in the second quarter valued at approximately $855,000. Finally, Advisor Group Inc. raised its stake in Star Bulk Carriers by 839.5% in the second quarter. Advisor Group Inc. now owns 3,570 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 3,190 shares in the last quarter. 57.05% of the stock is currently owned by institutional investors and hedge funds.
The business’s 50 day moving average is $10.67 and its two-hundred day moving average is $9.69. The firm has a market capitalization of $917.43 million, a PE ratio of 9.62 and a beta of 1.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.64.
Star Bulk Carriers Company Profile (NASDAQ:SBLK)
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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