Analysts Expect Star Bulk Carriers Corp. (SBLK) to Post $0.37 EPS

Wall Street brokerages expect that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post earnings per share (EPS) of $0.37 for the current quarter, according to Zacks. Two analysts have provided estimates for Star Bulk Carriers’ earnings. The lowest EPS estimate is $0.34 and the highest is $0.38. Star Bulk Carriers posted earnings of ($0.08) per share in the same quarter last year, which would suggest a positive year over year growth rate of 562.5%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, November 20th.

On average, analysts expect that Star Bulk Carriers will report full-year earnings of $1.29 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.29. For the next year, analysts expect that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.73 to $2.62. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $132.60 million for the quarter, compared to the consensus estimate of $122.37 million. Star Bulk Carriers had a net margin of 8.39% and a return on equity of 3.73%.

Several equities research analysts have commented on the stock. Deutsche Bank set a $17.00 price objective on shares of Star Bulk Carriers and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, July 17th. BidaskClub raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Star Bulk Carriers in a report on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.71.

Institutional investors have recently made changes to their positions in the company. WealthTrust Axiom LLC purchased a new stake in shares of Star Bulk Carriers in the third quarter worth about $144,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter worth about $142,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers in the first quarter worth about $180,000. FNY Investment Advisers LLC purchased a new stake in shares of Star Bulk Carriers in the third quarter worth about $285,000. Finally, Paloma Partners Management Co lifted its holdings in shares of Star Bulk Carriers by 27.8% in the second quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock worth $418,000 after buying an additional 7,074 shares in the last quarter. 68.09% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SBLK traded down $0.05 during trading on Friday, hitting $10.53. 602,011 shares of the company’s stock traded hands, compared to its average volume of 625,584. The company has a market cap of $700.28 million, a PE ratio of -47.86 and a beta of 2.59. Star Bulk Carriers has a 12-month low of $8.62 and a 12-month high of $15.38. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79.

About Star Bulk Carriers

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.

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