Q3 2018 EPS Estimates for Star Bulk Carriers Corp. (SBLK) Cut by Analyst

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Star Bulk Carriers Corp. (NASDAQ:SBLK) – Investment analysts at Jefferies Financial Group dropped their Q3 2018 EPS estimates for shares of Star Bulk Carriers in a research note issued to investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will earn $0.38 per share for the quarter, down from their previous estimate of $0.42.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. set a $20.00 target price on Star Bulk Carriers and gave the company a “buy” rating in a research note on Tuesday, September 11th. Deutsche Bank set a $17.00 target price on Star Bulk Carriers and gave the company a “buy” rating in a research note on Friday, September 28th. Stifel Nicolaus lifted their target price on Star Bulk Carriers from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, July 17th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Star Bulk Carriers in a research note on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.71.

Shares of SBLK stock opened at $11.57 on Wednesday. Star Bulk Carriers has a twelve month low of $8.62 and a twelve month high of $15.38. The company has a market capitalization of $785.96 million, a price-to-earnings ratio of -52.59 and a beta of 2.41. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.79.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The firm had revenue of $132.60 million for the quarter, compared to the consensus estimate of $122.37 million. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlantic Trust Group LLC lifted 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 buying an additional 4,132 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $142,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $180,000. FNY Investment Advisers LLC acquired a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $285,000. Finally, Paloma Partners Management Co lifted its holdings in shares of Star Bulk Carriers by 27.8% in the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after buying an additional 7,074 shares during the period. 68.00% of the stock is owned by institutional investors and hedge funds.

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 August 29, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.

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

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