Star Bulk Carriers Corp. (NASDAQ:SBLK) has earned a consensus rating of “Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.00.
SBLK has been the topic of several recent research reports. Zacks Investment Research cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Morgan Stanley dropped their target price on shares of Star Bulk Carriers from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Finally, Jefferies Group initiated coverage on shares of Star Bulk Carriers in a report on Monday, December 18th. They set a “buy” rating and a $15.00 target price on the stock.
A number of institutional investors have recently modified their holdings of SBLK. Impala Asset Management LLC grew its holdings in Star Bulk Carriers by 121.3% during the 3rd quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock worth $41,833,000 after acquiring an additional 2,361,428 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Star Bulk Carriers during the 4th quarter worth about $4,176,000. Driehaus Capital Management LLC bought a new position in Star Bulk Carriers during the 4th quarter worth about $4,170,000. Oaktree Capital Management LP boosted its holdings in shares of Star Bulk Carriers by 0.4% in the 3rd quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock valued at $316,347,000 after buying an additional 140,000 shares in the last quarter. Finally, J. Goldman & Co LP boosted its holdings in shares of Star Bulk Carriers by 71.5% in the 4th quarter. J. Goldman & Co LP now owns 285,000 shares of the shipping company’s stock valued at $3,209,000 after buying an additional 118,846 shares in the last quarter. Institutional investors own 70.93% of the company’s stock.
Star Bulk Carriers (NASDAQ SBLK) opened at $11.76 on Tuesday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.90. The company has a market cap of $754.44, a PE ratio of -6.29 and a beta of 2.60. Star Bulk Carriers has a 1-year low of $7.57 and a 1-year high of $13.40.
Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Sunday, November 19th. The shipping company reported ($0.08) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Star Bulk Carriers had a negative net margin of 23.09% and a negative return on equity of 4.04%. The firm had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $81.23 million. research analysts predict that Star Bulk Carriers will post -0.33 EPS for the current year.
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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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