Brokerages expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report $0.20 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Star Bulk Carriers’ earnings. The highest EPS estimate is $0.36 and the lowest is $0.14. Star Bulk Carriers reported earnings of ($0.21) per share during the same quarter last year, which would indicate a positive year over year growth rate of 195.2%. The company is expected to report its next quarterly earnings report on Wednesday, May 23rd.
On average, analysts expect that Star Bulk Carriers will report full year earnings of $1.02 per share for the current financial year, with EPS estimates ranging from $0.74 to $1.48. For the next year, analysts expect that the business will post earnings of $1.63 per share, with EPS estimates ranging from $1.34 to $1.92. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Tuesday, February 27th. The shipping company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $107.71 million during the quarter, compared to the consensus estimate of $107.10 million. Star Bulk Carriers had a negative return on equity of 0.44% and a negative net margin of 2.94%.
Several analysts have recently weighed in on the company. Jefferies Group assumed coverage on Star Bulk Carriers in a research note on Monday, December 18th. They set a “buy” rating and a $15.00 target price for the company. TheStreet raised shares of Star Bulk Carriers from a “d+” rating to a “c” rating in a research report on Friday, March 2nd. BidaskClub raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Zacks Investment Research cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Morgan Stanley reduced their price target on shares of Star Bulk Carriers from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Star Bulk Carriers currently has a consensus rating of “Buy” and a consensus target price of $14.00.
Several hedge funds have recently modified their holdings of SBLK. Impala Asset Management LLC lifted its position in shares of Star Bulk Carriers by 121.3% during the third quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock worth $41,833,000 after purchasing an additional 2,361,428 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Star Bulk Carriers in the fourth quarter worth about $4,176,000. Driehaus Capital Management LLC bought a new position in Star Bulk Carriers in the fourth quarter worth about $4,170,000. Oaktree Capital Management LP lifted its holdings in Star Bulk Carriers by 0.4% in the third quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock worth $316,347,000 after acquiring an additional 140,000 shares during the last quarter. Finally, J. Goldman & Co LP lifted its holdings in Star Bulk Carriers by 71.5% in the fourth quarter. J. Goldman & Co LP now owns 285,000 shares of the shipping company’s stock worth $3,209,000 after acquiring an additional 118,846 shares during the last quarter. 69.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Star Bulk Carriers (NASDAQ:SBLK) traded down $0.38 during trading on Friday, hitting $11.80. The stock had a trading volume of 219,685 shares, compared to its average volume of 423,515. 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 firm has a market capitalization of $770.48, a P/E ratio of -71.65 and a beta of 2.35. Star Bulk Carriers has a 12 month low of $7.57 and a 12 month high of $13.40.
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Star Bulk Carriers Company Profile
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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