Equities analysts forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post $252.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Star Bulk Carriers’ earnings, with estimates ranging from $249.18 million to $256.72 million. Star Bulk Carriers reported sales of $209.43 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.8%. The firm is expected to issue its next quarterly earnings report on Monday, February 10th.
According to Zacks, analysts expect that Star Bulk Carriers will report full year sales of $825.68 million for the current year, with estimates ranging from $821.91 million to $829.44 million. For the next fiscal year, analysts expect that the company will post sales of $1.05 billion, with estimates ranging from $984.04 million to $1.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings data on Wednesday, November 20th. The shipping company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Star Bulk Carriers had a positive return on equity of 1.24% and a negative net margin of 3.50%. The company had revenue of $248.44 million during the quarter, compared to analyst estimates of $215.35 million.
SBLK has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday. ValuEngine raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. BidaskClub downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Pareto Securities downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.50.
Institutional investors have recently bought and sold shares of the company. Oaktree Capital Management LP lifted its position in shares of Star Bulk Carriers by 5.7% in the second quarter. Oaktree Capital Management LP now owns 37,413,697 shares of the shipping company’s stock worth $361,043,000 after purchasing an additional 2,029,500 shares in the last quarter. Phoenix Holdings Ltd. acquired a new stake in Star Bulk Carriers during the 3rd quarter worth $3,417,000. Impala Asset Management LLC boosted its position in shares of 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 worth $36,770,000 after purchasing an additional 178,799 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 worth $19,237,000 after purchasing an additional 145,000 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its holdings in Star Bulk Carriers by 685.1% in the second quarter. Marshall Wace North America L.P. now owns 55,807 shares of the shipping company’s stock valued at $538,000 after purchasing an additional 48,699 shares during the last quarter. Institutional investors own 54.75% of the company’s stock.
Shares of SBLK traded down $0.03 during trading hours on Monday, reaching $10.73. 9,438 shares of the company traded hands, compared to its average volume of 624,733. The stock has a market capitalization of $999.08 million, a PE ratio of 9.68 and a beta of 1.67. The stock has a fifty day simple moving average of $11.14 and a 200 day simple moving average of $10.55. Star Bulk Carriers has a fifty-two week low of $6.16 and a fifty-two week high of $12.09. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.88.
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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