Equities research analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report $133.49 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Star Bulk Carriers’ earnings, with the lowest sales estimate coming in at $127.98 million and the highest estimate coming in at $139.00 million. Star Bulk Carriers posted sales of $132.60 million during the same quarter last year, which suggests a positive year over year growth rate of 0.7%. The business is expected to report its next earnings report on Tuesday, August 6th.
On average, analysts expect that Star Bulk Carriers will report full-year sales of $671.78 million for the current fiscal year, with estimates ranging from $648.47 million to $695.09 million. For the next year, analysts forecast that the firm will report sales of $986.31 million, with estimates ranging from $881.55 million to $1.09 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, May 22nd. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $166.49 million during the quarter, compared to analysts’ expectations of $154.10 million. Star Bulk Carriers had a net margin of 6.28% and a return on equity of 4.91%.
Several brokerages have weighed in on SBLK. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. BidaskClub raised shares of Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Deutsche Bank set a $15.00 target price on shares of Star Bulk Carriers and gave the stock a “buy” rating in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Star Bulk Carriers currently has an average rating of “Buy” and a consensus price target of $17.75.
SBLK stock traded down $0.26 during mid-day trading on Monday, hitting $10.65. 650,125 shares of the company were exchanged, compared to its average volume of 479,924. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.59 and a beta of 1.87. The firm’s fifty day simple moving average is $9.06. Star Bulk Carriers has a 12-month low of $6.16 and a 12-month high of $15.38.
A number of hedge funds have recently made changes to their positions in SBLK. Oaktree Capital Management LP boosted its stake in Star Bulk Carriers by 11.8% during the fourth quarter. Oaktree Capital Management LP now owns 34,161,751 shares of the shipping company’s stock worth $312,239,000 after buying an additional 3,603,984 shares during the period. Evermore Global Advisors LLC acquired a new stake in shares of Star Bulk Carriers during the first quarter worth about $9,531,000. Bank of America Corp DE lifted its position in shares of Star Bulk Carriers by 1,084,750.0% during the fourth quarter. Bank of America Corp DE now owns 108,485 shares of the shipping company’s stock worth $992,000 after purchasing an additional 108,475 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Star Bulk Carriers by 14.0% during the first quarter. Marshall Wace LLP now owns 858,508 shares of the shipping company’s stock worth $5,649,000 after purchasing an additional 105,185 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Star Bulk Carriers during the fourth quarter worth about $301,000. 56.65% of the stock is owned by institutional investors.
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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