Star Bulk Carriers (NASDAQ:SBLK) Issues Quarterly Earnings Results

Star Bulk Carriers (NASDAQ:SBLKGet Rating) announced its quarterly earnings data on Tuesday. The shipping company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.25, MarketWatch Earnings reports. Star Bulk Carriers had a return on equity of 37.79% and a net margin of 47.67%. During the same quarter last year, the firm posted $0.36 EPS.

NASDAQ:SBLK opened at $32.79 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.35 and a debt-to-equity ratio of 0.64. The firm has a market cap of $3.35 billion, a PE ratio of 4.92 and a beta of 0.89. Star Bulk Carriers has a 12 month low of $16.56 and a 12 month high of $33.88. The company’s 50-day moving average price is $29.51 and its two-hundred day moving average price is $25.46.

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Star Bulk Carriers in a research note on Wednesday, April 27th. They set a “buy” rating on the stock. StockNews.com lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 20th. Pareto Securities lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Wednesday, February 23rd. HC Wainwright raised their price target on shares of Star Bulk Carriers from $35.00 to $40.00 in a research note on Friday, February 18th. Finally, Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, April 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in Star Bulk Carriers by 638.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,576,600 shares of the shipping company’s stock worth $76,499,000 after buying an additional 2,227,800 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Star Bulk Carriers by 175.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,412,760 shares of the shipping company’s stock worth $41,944,000 after purchasing an additional 899,337 shares in the last quarter. BlackRock Inc. grew its stake in shares of Star Bulk Carriers by 326.3% during the fourth quarter. BlackRock Inc. now owns 541,341 shares of the shipping company’s stock valued at $12,272,000 after purchasing an additional 414,345 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Star Bulk Carriers by 92.9% in the fourth quarter. Stifel Financial Corp now owns 491,132 shares of the shipping company’s stock valued at $11,134,000 after purchasing an additional 236,491 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Star Bulk Carriers by 37.6% in the fourth quarter. Wells Fargo & Company MN now owns 660,447 shares of the shipping company’s stock valued at $14,972,000 after purchasing an additional 180,623 shares in the last quarter. Institutional investors and hedge funds own 49.81% of the company’s stock.

Star Bulk Carriers Company Profile (Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's 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 December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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Earnings History for Star Bulk Carriers (NASDAQ:SBLK)

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