Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $95.85 Million
Wall Street brokerages predict that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post sales of $95.85 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Star Bulk Carriers’ earnings. The highest sales estimate is $104.35 million and the lowest is $84.88 million. Star Bulk Carriers reported sales of $64.87 million in the same quarter last year, which would indicate a positive year over year growth rate of 47.8%. The firm is expected to report its next earnings report on Wednesday, May 23rd.
According to Zacks, analysts expect that Star Bulk Carriers will report full year sales of $95.85 million for the current financial year, with estimates ranging from $367.74 million to $472.41 million. For the next year, analysts anticipate that the firm will report sales of $440.82 million per share, with estimates ranging from $389.44 million to $502.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, February 27th. The shipping company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $107.71 million for the quarter, compared to analysts’ expectations of $107.10 million. Star Bulk Carriers had a negative net margin of 2.94% and a negative return on equity of 0.44%.
Star Bulk Carriers stock traded down $0.38 during trading hours on Monday, reaching $11.80. 219,781 shares of the company traded hands, compared to its average volume of 423,515. The company has a market capitalization of $770.48, a PE ratio of -71.65 and a beta of 2.35. Star Bulk Carriers has a twelve month low of $7.57 and a twelve month high of $13.40. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.90.
Hedge funds have recently made changes to their positions in the company. Oaktree Capital Management LP boosted its stake in Star Bulk Carriers by 0.4% in the 3rd quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock worth $316,347,000 after purchasing an additional 140,000 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Star Bulk Carriers in the 4th quarter worth about $272,000. Westpac Banking Corp boosted its stake in Star Bulk Carriers by 43.6% in the 4th quarter. Westpac Banking Corp now owns 95,100 shares of the shipping company’s stock worth $1,071,000 after purchasing an additional 28,880 shares in the last quarter. Capital Fund Management S.A. bought a new position in Star Bulk Carriers in the 4th quarter worth about $145,000. Finally, JPMorgan Chase & Co. bought a new position in Star Bulk Carriers in the 3rd quarter worth about $1,105,000. Hedge funds and other institutional investors own 69.59% of the company’s stock.
WARNING: “Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $95.85 Million” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.watchlistnews.com/star-bulk-carriers-corp-sblk-expected-to-announce-quarterly-sales-of-95-85-million/1957847.html.
Star Bulk Carriers Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.