Star Bulk Carriers (SBLK) Upgraded by Zacks Investment Research to Hold

Star Bulk Carriers (NASDAQ:SBLK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “

Several other brokerages have also issued reports on SBLK. BidaskClub lowered Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. ValuEngine lowered Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 6th. Deutsche Bank set a $17.00 target price on Star Bulk Carriers and gave the stock a “buy” rating in a research note on Thursday, November 8th. DNB Markets began coverage on Star Bulk Carriers in a research note on Friday, January 4th. They issued a “buy” rating for the company. Finally, Morgan Stanley lowered Star Bulk Carriers from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.00.

SBLK stock opened at $7.86 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The stock has a market cap of $530.24 million, a price-to-earnings ratio of 7.08 and a beta of 1.64. Star Bulk Carriers has a twelve month low of $6.90 and a twelve month high of $15.38.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings data on Monday, February 11th. The shipping company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Star Bulk Carriers had a return on equity of 7.65% and a net margin of 9.05%. The company had revenue of $209.43 million during the quarter, compared to analyst estimates of $186.95 million. Sell-side analysts expect that Star Bulk Carriers will post 0.4 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in SBLK. Legal & General Group Plc bought a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $68,000. Cetera Advisor Networks LLC bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $123,000. Citigroup Inc. raised its holdings in shares of Star Bulk Carriers by 13.0% during the fourth quarter. Citigroup Inc. now owns 14,890 shares of the shipping company’s stock valued at $136,000 after acquiring an additional 1,709 shares in the last quarter. WealthTrust Axiom LLC bought a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $144,000. Finally, Sippican Capital Advisors raised its holdings in shares of Star Bulk Carriers by 27.5% during the fourth quarter. Sippican Capital Advisors now owns 16,062 shares of the shipping company’s stock valued at $147,000 after acquiring an additional 3,462 shares in the last quarter. Institutional investors own 76.87% 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 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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