Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $102.00 Million

Wall Street analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report sales of $102.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Star Bulk Carriers Corp.’s earnings, with the highest sales estimate coming in at $107.49 million and the lowest estimate coming in at $96.51 million. Star Bulk Carriers Corp. posted sales of $63.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 61.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Star Bulk Carriers Corp. will report full-year sales of $102.00 million for the current fiscal year, with estimates ranging from $323.67 million to $338.14 million. For the next year, analysts expect that the business will post sales of $432.33 million per share, with estimates ranging from $430.86 million to $433.79 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Star Bulk Carriers Corp..

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Star Bulk Carriers Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Stifel Nicolaus set a $11.00 target price on shares of Star Bulk Carriers Corp. and gave the company a “hold” rating in a research report on Sunday, October 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Star Bulk Carriers Corp. in a research report on Thursday, October 19th. TheStreet cut shares of Star Bulk Carriers Corp. from a “c” rating to a “d+” rating in a research report on Thursday, September 28th. Finally, Pareto Securities raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Star Bulk Carriers Corp. presently has an average rating of “Buy” and a consensus target price of $13.00.

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Shares of Star Bulk Carriers Corp. (NASDAQ SBLK) traded up $0.13 during mid-day trading on Friday, hitting $9.48. 547,296 shares of the stock traded hands, compared to its average volume of 584,263. The company has a debt-to-equity ratio of 0.96, a quick ratio of 6.93 and a current ratio of 6.93. Star Bulk Carriers Corp. has a 1 year low of $4.63 and a 1 year high of $13.40.

Several institutional investors and hedge funds have recently modified their holdings of SBLK. Impala Asset Management LLC lifted its position in shares of Star Bulk Carriers Corp. 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 purchasing an additional 2,361,428 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Star Bulk Carriers Corp. during the second quarter worth about $4,046,000. Renaissance Technologies LLC lifted its position in shares of Star Bulk Carriers Corp. by 233.3% during the first quarter. Renaissance Technologies LLC now owns 576,599 shares of the shipping company’s stock worth $6,850,000 after purchasing an additional 403,619 shares in the last quarter. Caspian Capital LP lifted its position in shares of Star Bulk Carriers Corp. by 10.7% during the second quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock worth $31,139,000 after purchasing an additional 306,341 shares in the last quarter. Finally, Leucadia National Corp lifted its position in shares of Star Bulk Carriers Corp. by 491.5% during the second quarter. Leucadia National Corp now owns 174,589 shares of the shipping company’s stock worth $1,716,000 after purchasing an additional 145,073 shares in the last quarter. 74.23% of the stock is currently owned by institutional investors and hedge funds.

About Star Bulk Carriers Corp.

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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