Star Bulk Carriers (NASDAQ:SBLK) had its price objective lowered by equities research analysts at Morgan Stanley from $15.00 to $14.00 in a research note issued on Tuesday. The brokerage currently has an “overweight” rating on the shipping company’s stock. Morgan Stanley’s target price would suggest a potential upside of 18.74% from the stock’s current price.
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. JPMorgan Chase raised their price objective on Star Bulk Carriers from $17.00 to $17.50 and gave the stock an “overweight” rating in a report on Friday, March 23rd. Zacks Investment Research downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Jefferies Group initiated coverage on Star Bulk Carriers in a report on Monday, December 18th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on Star Bulk Carriers from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Star Bulk Carriers currently has an average rating of “Hold” and a consensus target price of $14.42.
Star Bulk Carriers stock opened at $11.79 on Tuesday. The stock has a market capitalization of $730.70, a PE ratio of -53.59 and a beta of 2.26. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.77. Star Bulk Carriers has a 12 month low of $7.57 and a 12 month high of $13.29.
Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Tuesday, February 27th. The shipping company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $107.71 million for the quarter, compared to the consensus estimate of $107.10 million. Star Bulk Carriers had a negative return on equity of 0.44% and a negative net margin of 2.94%. equities analysts forecast that Star Bulk Carriers will post 1.06 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Capital Fund Management S.A. purchased a new stake in shares of Star Bulk Carriers during the 4th quarter valued at about $145,000. State Street Corp purchased a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at about $176,000. Fox Run Management L.L.C. purchased a new stake in shares of Star Bulk Carriers during the 4th quarter valued at about $272,000. LPL Financial LLC raised its holdings in shares of Star Bulk Carriers by 86.5% during the 4th quarter. LPL Financial LLC now owns 24,431 shares of the shipping company’s stock valued at $275,000 after buying an additional 11,331 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Star Bulk Carriers by 6,400.0% during the 4th quarter. Deutsche Bank AG now owns 32,500 shares of the shipping company’s stock valued at $365,000 after buying an additional 32,000 shares during the period. Institutional investors and hedge funds own 69.59% of the company’s stock.
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About Star Bulk Carriers
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport bulk commodities, including ores, coal, grains, fertilizers, and steel products. As of March 9, 2017, the company had a fleet of 68 operating vessels and 4 newbuilding vessels, as well as operated a chartered-in Supramax vessel.
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