Jefferies Group Weighs in on Star Bulk Carriers Corp.’s FY2017 Earnings (NASDAQ:SBLK)

Star Bulk Carriers Corp. (NASDAQ:SBLK) – Jefferies Group issued their FY2017 earnings per share (EPS) estimates for Star Bulk Carriers in a note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst R. Giveans forecasts that the shipping company will post earnings per share of ($0.44) for the year. Jefferies Group has a “Buy” rating and a $15.00 price objective on the stock. Jefferies Group also issued estimates for Star Bulk Carriers’ Q4 2017 earnings at $0.11 EPS and FY2018 earnings at $0.90 EPS.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Friday, October 20th. TheStreet lowered shares of Star Bulk Carriers from a “c” rating to a “d+” rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus set a $11.00 price target on shares of Star Bulk Carriers and gave the company a “hold” rating in a report on Sunday, October 22nd. 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 a consensus rating of “Buy” and a consensus target price of $13.00.

Star Bulk Carriers (NASDAQ SBLK) traded up $0.09 during trading hours on Wednesday, reaching $11.89. 277,071 shares of the company’s stock traded hands, compared to its average volume of 419,667. Star Bulk Carriers has a one year low of $6.73 and a one year high of $13.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 6.93 and a current ratio of 6.93. The stock has a market capitalization of $764.06, a price-to-earnings ratio of -6.36 and a beta of 2.73.

Several institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC raised its position in shares of Star Bulk Carriers by 3.5% in the second quarter. Neuberger Berman Group LLC now owns 31,146 shares of the shipping company’s stock worth $306,000 after acquiring an additional 1,052 shares during the period. Westpac Banking Corp raised its position in shares of Star Bulk Carriers by 13.8% in the second quarter. Westpac Banking Corp now owns 31,820 shares of the shipping company’s stock worth $313,000 after acquiring an additional 3,859 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Star Bulk Carriers by 12.8% in the second quarter. Goldman Sachs Group Inc. now owns 49,515 shares of the shipping company’s stock worth $487,000 after acquiring an additional 5,619 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of Star Bulk Carriers by 65.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 18,577 shares of the shipping company’s stock worth $181,000 after acquiring an additional 7,373 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in shares of Star Bulk Carriers in the second quarter worth about $103,000. Institutional investors and hedge funds own 70.43% of the company’s stock.

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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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