Brokerages Expect Star Bulk Carriers Corp. (SBLK) to Announce $0.15 EPS

Wall Street brokerages forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce $0.15 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Star Bulk Carriers’ earnings. The highest EPS estimate is $0.21 and the lowest is $0.10. Star Bulk Carriers posted earnings per share of ($0.12) during the same quarter last year, which suggests a positive year over year growth rate of 225%. The company is expected to issue its next quarterly earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that Star Bulk Carriers will report full-year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.74 to $1.02. For the next year, analysts anticipate that the business will post earnings of $1.73 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Star Bulk Carriers.

SBLK has been the topic of a number of recent analyst reports. Stifel Nicolaus raised Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, April 23rd. BidaskClub raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Saturday, May 5th. Seaport Global Securities set a $16.00 price objective on Star Bulk Carriers and gave the company a “buy” rating in a research note on Wednesday, February 28th. TheStreet raised Star Bulk Carriers from a “d+” rating to a “c” rating in a research note on Friday, March 2nd. Finally, ValuEngine raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Star Bulk Carriers presently has a consensus rating of “Buy” and a consensus price target of $15.58.

Large investors have recently bought and sold shares of the stock. Atlantic Trust Group LLC increased its position 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 purchasing an additional 4,132 shares during the last quarter. Millennium Management LLC grew its holdings in Star Bulk Carriers by 262.1% in the first quarter. Millennium Management LLC now owns 666,607 shares of the shipping company’s stock valued at $7,753,000 after purchasing an additional 482,501 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Star Bulk Carriers in the first quarter valued at approximately $180,000. A.R.T. Advisors LLC grew its holdings in Star Bulk Carriers by 16.5% in the first quarter. A.R.T. Advisors LLC now owns 90,604 shares of the shipping company’s stock valued at $1,053,000 after purchasing an additional 12,800 shares during the period. Finally, UBS Group AG grew its holdings in Star Bulk Carriers by 210.0% in the first quarter. UBS Group AG now owns 104,109 shares of the shipping company’s stock valued at $1,211,000 after purchasing an additional 70,524 shares during the period. 69.17% of the stock is owned by institutional investors.

Shares of Star Bulk Carriers traded up $0.32, reaching $14.13, during trading on Monday, MarketBeat Ratings reports. 30,432 shares of the company’s stock were exchanged, compared to its average volume of 365,282. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $850.67 million, a PE ratio of -64.82 and a beta of 2.32. Star Bulk Carriers has a twelve month low of $7.87 and a twelve month high of $14.25.

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 February 27, 2018, the company had a fleet of 72 vessels with an aggregate capacity of approximately 7.8 million deadweight ton (dwt); and had contracts for 2 additional newbuilding vessels with an aggregate capacity of approximately 416,000 dwt.

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

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