Brokerages Expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to Post $0.28 EPS

Equities analysts expect that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce $0.28 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Star Bulk Carriers’ earnings, with estimates ranging from $0.09 to $0.47. Star Bulk Carriers posted earnings of $0.35 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 20%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 19th.

According to Zacks, analysts expect that Star Bulk Carriers will report full-year earnings of $0.22 per share for the current year, with EPS estimates ranging from ($0.13) to $0.57. For the next year, analysts expect that the company will report earnings of $2.67 per share, with EPS estimates ranging from $2.64 to $2.70. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.09. Star Bulk Carriers had a net margin of 6.28% and a return on equity of 4.91%. The business had revenue of $157.79 million for the quarter, compared to analyst estimates of $137.11 million.

SBLK has been the subject of several analyst reports. ValuEngine raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. BidaskClub downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank set a $15.00 target price on shares of Star Bulk Carriers and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $16.80.

A number of hedge funds have recently made changes to their positions in SBLK. Sippican Capital Advisors grew its stake in Star Bulk Carriers by 13.2% in the first quarter. Sippican Capital Advisors now owns 18,178 shares of the shipping company’s stock valued at $120,000 after acquiring an additional 2,116 shares during the period. Advisor Group Inc. grew its stake in Star Bulk Carriers by 839.5% in the second quarter. Advisor Group Inc. now owns 3,570 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 3,190 shares during the period. Marshall Wace North America L.P. acquired a new position in Star Bulk Carriers in the first quarter valued at about $47,000. Tokio Marine Asset Management Co. Ltd. grew its stake in Star Bulk Carriers by 18.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 67,700 shares of the shipping company’s stock valued at $445,000 after acquiring an additional 10,500 shares during the period. Finally, Wells Fargo & Company MN acquired a new position in Star Bulk Carriers in the second quarter valued at about $102,000. 56.72% of the stock is owned by hedge funds and other institutional investors.

SBLK stock traded down $0.03 during trading on Monday, hitting $9.29. The stock had a trading volume of 890,450 shares, compared to its average volume of 620,381. The company has a 50 day moving average price of $9.87. Star Bulk Carriers has a 1-year low of $6.16 and a 1-year high of $15.38. The company has a market capitalization of $804.72 million, a PE ratio of 8.37 and a beta of 1.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.34.

Star Bulk Carriers Company Profile

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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

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Earnings History and Estimates for Star Bulk Carriers (NASDAQ:SBLK)

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