Jefferies Group Reaffirms “Buy” Rating for Star Bulk Carriers Corp. (SBLK)
Jefferies Group reiterated their buy rating on shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in a research note issued to investors on Friday morning. Jefferies Group currently has a $6.00 price objective on the stock, up from their previous price objective of $5.00.
A number of other brokerages also recently weighed in on SBLK. JPMorgan Chase & Co. raised Star Bulk Carriers Corp. from a neutral rating to an overweight rating and set a $6.50 price target on the stock in a research report on Tuesday, July 19th. Seaport Global Securities reissued a neutral rating and set a $4.00 price target on shares of Star Bulk Carriers Corp. in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research lowered Star Bulk Carriers Corp. from a buy rating to a hold rating in a research report on Saturday, June 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Star Bulk Carriers Corp. has an average rating of Hold and an average target price of $4.00.
Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 4.86 on Friday. The firm’s market cap is $213.62 million. Star Bulk Carriers Corp. has a 1-year low of $1.55 and a 1-year high of $12.40. The stock has a 50 day moving average price of $4.35 and a 200-day moving average price of $4.03.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, September 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.66) by $0.03. The company had revenue of $52.65 million for the quarter. Star Bulk Carriers Corp. had a negative return on equity of 10.28% and a negative net margin of 187.42%. On average, equities research analysts expect that Star Bulk Carriers Corp. will post ($2.61) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Goldman Sachs Group Inc. boosted its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 55.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,863 shares of the company’s stock after buying an additional 50,385 shares during the period. Goldman Sachs Group Inc. owned approximately 0.06% of Star Bulk Carriers Corp. worth $106,000 at the end of the most recent quarter. 75.77% of the stock is currently owned by institutional investors.
Star Bulk Carriers Corp. Company Profile
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Company will have a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 dwt and 209,537 deadweight tonnage (dwt).
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