Zacks: Analysts Anticipate Star Bulk Carriers Corp. (NASDAQ:SBLK) to Post $0.25 EPS

Equities analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to post earnings of $0.25 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Star Bulk Carriers’ earnings. The highest EPS estimate is $0.26 and the lowest is $0.24. Star Bulk Carriers posted earnings per share of $0.33 in the same quarter last year, which would suggest a negative year-over-year growth rate of 24.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, February 10th.

On average, analysts expect that Star Bulk Carriers will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.12 to $0.14. For the next year, analysts expect that the company will post earnings of $2.73 per share, with EPS estimates ranging from $2.54 to $2.92. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, November 20th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $248.44 million during the quarter, compared to analyst estimates of $215.35 million.

Several equities research analysts recently weighed in on the company. ValuEngine raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Pareto Securities lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday. Finally, BidaskClub downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $13.50.

SBLK traded down $0.03 during trading hours on Friday, hitting $10.73. The stock had a trading volume of 9,438 shares, compared to its average volume of 624,733. The company’s fifty day simple moving average is $11.14 and its 200 day simple moving average is $10.55. Star Bulk Carriers has a 1 year low of $6.16 and a 1 year high of $12.09. The stock has a market cap of $999.08 million, a PE ratio of 9.68 and a beta of 1.67. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.88.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP raised its position 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 worth $361,043,000 after purchasing an additional 2,029,500 shares during the period. Impala Asset Management LLC increased its position in Star Bulk Carriers by 4.9% during 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 purchasing an additional 178,799 shares during the period. Renaissance Technologies LLC increased its position in shares of Star Bulk Carriers by 7.8% during the second quarter. Renaissance Technologies LLC now owns 1,993,426 shares of the shipping company’s stock valued at $19,237,000 after buying an additional 145,000 shares during the period. Phoenix Holdings Ltd. bought a new position in Star Bulk Carriers in the third quarter worth about $3,417,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in Star Bulk Carriers by 7.0% in the second quarter. Parametric Portfolio Associates LLC now owns 233,826 shares of the shipping company’s stock worth $2,256,000 after buying an additional 15,212 shares during the period. 54.75% of the stock is currently owned by institutional investors.

About Star Bulk Carriers

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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