Zacks: Brokerages Expect Star Bulk Carriers Corp. (SBLK) Will Announce Earnings of $0.17 Per Share
Wall Street analysts forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Star Bulk Carriers’ earnings. The lowest EPS estimate is $0.11 and the highest is $0.23. Star Bulk Carriers posted earnings of ($0.29) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 158.6%. The business is expected to issue its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Star Bulk Carriers will report full-year earnings of ($0.24) per share for the current year, with EPS estimates ranging from ($0.30) to ($0.17). For the next financial year, analysts expect that the business will report earnings of $0.47 per share, with EPS estimates ranging from ($0.26) to $0.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Star Bulk Carriers.
Several research analysts recently commented on SBLK shares. Zacks Investment Research cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Star Bulk Carriers in a research report on Thursday, October 19th. TheStreet cut Star Bulk Carriers from a “c” rating to a “d+” rating in a research report on Thursday, September 28th. Pareto Securities raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Finally, Stifel Nicolaus set a $11.00 target price on Star Bulk Carriers and gave the stock a “hold” rating in a research report on Sunday, October 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.00.
A number of institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its stake in Star Bulk Carriers by 10.8% during the third quarter. California Public Employees Retirement System now owns 281,888 shares of the shipping company’s stock worth $2,737,000 after acquiring an additional 27,488 shares in the last quarter. Oaktree Capital Management LP raised its stake in Star Bulk Carriers by 0.4% during the third quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock worth $316,347,000 after acquiring an additional 140,000 shares in the last quarter. Royce & Associates LP raised its stake in Star Bulk Carriers by 6.9% during the third quarter. Royce & Associates LP now owns 217,000 shares of the shipping company’s stock worth $2,107,000 after acquiring an additional 14,000 shares in the last quarter. Impala Asset Management LLC raised its stake in Star Bulk Carriers by 121.3% during the third quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock worth $41,833,000 after acquiring an additional 2,361,428 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Star Bulk Carriers during the third quarter worth $1,105,000. Hedge funds and other institutional investors own 70.43% of the company’s stock.
Star Bulk Carriers (NASDAQ SBLK) opened at $10.79 on Tuesday. Star Bulk Carriers has a 12-month low of $4.63 and a 12-month high of $13.40. The company has a quick ratio of 6.93, a current ratio of 6.93 and a debt-to-equity ratio of 0.96.
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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).
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