Zacks: Analysts Expect Star Bulk Carriers Corp. (SBLK) to Announce -$0.10 EPS

Analysts forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce ($0.10) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Star Bulk Carriers Corp.’s earnings. The highest EPS estimate is $0.03 and the lowest is ($0.22). Star Bulk Carriers Corp. posted earnings of ($0.44) per share in the same quarter last year, which would indicate a positive year over year growth rate of 77.3%. The firm is scheduled to announce its next earnings report on Monday, November 20th.

On average, analysts expect that Star Bulk Carriers Corp. will report full year earnings of ($0.37) per share for the current year, with EPS estimates ranging from ($0.77) to ($0.03). For the next year, analysts forecast that the business will post earnings of $0.88 per share, with EPS estimates ranging from ($0.26) to $2.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Star Bulk Carriers Corp..

A number of equities research analysts have weighed in on SBLK shares. Zacks Investment Research upgraded Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet lowered Star Bulk Carriers Corp. from a “c” rating to a “d+” rating in a research note on Thursday, September 28th. Jefferies Group LLC restated a “buy” rating and set a $15.00 price objective on shares of Star Bulk Carriers Corp. in a research note on Thursday, October 19th. BidaskClub lowered Star Bulk Carriers Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Pareto Securities upgraded Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.00.

Large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP lifted its holdings in Star Bulk Carriers Corp. by 176.5% during the 2nd quarter. Engineers Gate Manager LP now owns 46,689 shares of the shipping company’s stock worth $459,000 after buying an additional 29,803 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Star Bulk Carriers Corp. during the 1st quarter worth approximately $1,529,000. River & Mercantile Asset Management LLP lifted its holdings in Star Bulk Carriers Corp. by 57.9% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 298,819 shares of the shipping company’s stock worth $2,934,000 after buying an additional 109,600 shares during the last quarter. Leucadia National Corp lifted its holdings in Star Bulk Carriers Corp. by 491.5% during the 2nd quarter. Leucadia National Corp now owns 174,589 shares of the shipping company’s stock worth $1,716,000 after buying an additional 145,073 shares during the last quarter. Finally, Caspian Capital LP lifted its holdings in Star Bulk Carriers Corp. by 10.7% during the 2nd quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock worth $31,139,000 after buying an additional 306,341 shares during the last quarter. 73.76% of the stock is currently owned by institutional investors.

Star Bulk Carriers Corp. (NASDAQ:SBLK) traded up 3.07% during trading on Friday, reaching $10.42. The company’s stock had a trading volume of 169,722 shares. The company’s market capitalization is $660.78 million. The company’s 50-day moving average is $10.39 and its 200-day moving average is $9.82. Star Bulk Carriers Corp. has a 1-year low of $4.04 and a 1-year high of $13.40.

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About Star Bulk Carriers Corp.

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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