Star Bulk Carriers (SBLK) PT Set at $17.00 by Deutsche Bank

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Star Bulk Carriers (NASDAQ:SBLK) has been given a $17.00 price objective by Deutsche Bank in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the shipping company’s stock. Deutsche Bank’s price objective points to a potential upside of 61.44% from the stock’s current price.

SBLK has been the subject of a number of other reports. JPMorgan Chase & Co. set a $20.00 price objective on Star Bulk Carriers and gave the company a “buy” rating in a research report on Tuesday, September 11th. BidaskClub raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Seaport Global Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Star Bulk Carriers in a research report on Sunday, August 12th. Stifel Nicolaus raised their price objective on Star Bulk Carriers from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, ValuEngine cut Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.71.

NASDAQ SBLK traded down $0.05 during trading hours on Thursday, hitting $10.53. 602,011 shares of the company traded hands, compared to its average volume of 625,584. Star Bulk Carriers has a twelve month low of $8.62 and a twelve month high of $15.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59. The stock has a market capitalization of $700.28 million, a PE ratio of -47.86 and a beta of 2.59.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. The firm had revenue of $132.60 million during the quarter, compared to analysts’ expectations of $122.37 million. As a group, research analysts forecast that Star Bulk Carriers will post 1.22 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at approximately $142,000. WealthTrust Axiom LLC acquired a new stake in shares of Star Bulk Carriers in the third quarter valued at approximately $144,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the first quarter valued at approximately $180,000. FNY Investment Advisers LLC acquired a new stake in shares of Star Bulk Carriers in the third quarter valued at approximately $285,000. Finally, Paloma Partners Management Co lifted its holdings in Star Bulk Carriers by 27.8% during the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock worth $418,000 after purchasing an additional 7,074 shares during the last quarter. 68.09% 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 October 10, 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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Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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