Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) have been assigned an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $14.50.
A number of equities research analysts have weighed in on SBLK shares. TheStreet raised Star Bulk Carriers from a “d+” rating to a “c” rating in a research report on Friday, March 2nd. Zacks Investment Research downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Stifel Nicolaus boosted their target price on Star Bulk Carriers from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, March 1st. Morgan Stanley boosted their target price on Star Bulk Carriers from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, March 1st. Finally, BidaskClub downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Saturday, March 10th.
Institutional investors have recently modified their holdings of the stock. Oaktree Capital Management LP lifted 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 valued at $316,347,000 after purchasing an additional 140,000 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Star Bulk Carriers during the fourth quarter worth about $272,000. Westpac Banking Corp lifted its position in Star Bulk Carriers by 43.6% during the fourth 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 during the period. Capital Fund Management S.A. bought a new stake in Star Bulk Carriers during the fourth quarter worth about $145,000. Finally, JPMorgan Chase & Co. bought a new stake in Star Bulk Carriers during the third quarter worth about $1,105,000. Institutional investors own 69.59% of the company’s stock.
Shares of Star Bulk Carriers (NASDAQ SBLK) traded down $0.10 during mid-day trading on Friday, hitting $12.12. The company had a trading volume of 71,673 shares, compared to its average volume of 429,110. Star Bulk Carriers has a 52-week low of $7.57 and a 52-week high of $13.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.64 and a quick ratio of 2.64. The company has a market cap of $798.71, a price-to-earnings ratio of -71.88 and a beta of 2.35.
Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Tuesday, February 27th. The shipping company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. The business had revenue of $107.71 million during the quarter, compared to analyst estimates of $107.10 million. Star Bulk Carriers had a negative return on equity of 0.44% and a negative net margin of 2.94%. equities research analysts anticipate that Star Bulk Carriers will post 1.06 earnings per share for the current fiscal year.
About Star Bulk Carriers
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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