Star Bulk Carriers Corp. (SBLK) to Post Q3 2018 Earnings of $0.36 Per Share, Seaport Global Securities Forecasts

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Star Bulk Carriers Corp. (NASDAQ:SBLK) – Stock analysts at Seaport Global Securities lifted their Q3 2018 EPS estimates for shares of Star Bulk Carriers in a research note issued to investors on Thursday, August 9th. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings of $0.36 per share for the quarter, up from their previous forecast of $0.29. Seaport Global Securities has a “Buy” rating and a $20.00 price objective on the stock. Seaport Global Securities also issued estimates for Star Bulk Carriers’ Q4 2018 earnings at $0.47 EPS, Q1 2019 earnings at $0.63 EPS, Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.69 EPS, Q4 2019 earnings at $0.67 EPS and FY2019 earnings at $2.62 EPS.

SBLK has been the topic of several other reports. BidaskClub downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Friday, May 25th. ValuEngine upgraded Star Bulk Carriers from a “strong sell” rating to a “sell” rating in a report on Thursday, April 19th. Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, July 17th. Deutsche Bank lifted their price objective on Star Bulk Carriers to $17.00 and gave the stock a “buy” rating in a report on Wednesday, June 20th. Finally, Morgan Stanley lifted their price objective on Star Bulk Carriers from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, June 13th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Star Bulk Carriers presently has a consensus rating of “Buy” and a consensus price target of $16.21.

SBLK stock opened at $13.14 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.83. Star Bulk Carriers has a 52-week low of $8.62 and a 52-week high of $14.60. The company has a market cap of $850.67 million, a price-to-earnings ratio of -59.73 and a beta of 2.24.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Monday, June 11th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Star Bulk Carriers had a return on equity of 3.79% and a net margin of 8.39%. The company had revenue of $121.06 million for the quarter, compared to the consensus estimate of $100.93 million.

Hedge funds and other institutional investors have recently modified their holdings of the company. Atlantic Trust Group LLC increased its holdings in shares of Star Bulk Carriers by 79.0% in the 1st quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 4,132 shares during the last quarter. Jump Trading LLC bought a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $128,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $142,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $162,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $180,000. Institutional investors and hedge funds own 69.61% of the company’s stock.

About Star Bulk Carriers

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 May 14, 2018, the company had a fleet of 108 vessels with an aggregate capacity of approximately 12.26 million deadweight ton (dwt), including 17 Newcastlemax, 18 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 11 Supramax vessels.

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Earnings History and Estimates for Star Bulk Carriers (NASDAQ:SBLK)

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