Zacks: Analysts Expect Star Bulk Carriers Corp. (SBLK) to Post -$0.05 Earnings Per Share

Equities research analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to announce earnings of ($0.05) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Star Bulk Carriers’ earnings. The lowest EPS estimate is ($0.13) and the highest is $0.00. Star Bulk Carriers posted earnings per share of $0.18 in the same quarter last year, which indicates a negative year-over-year growth rate of 127.8%. The business is expected to announce its next quarterly earnings report on Monday, June 10th.

On average, analysts expect that Star Bulk Carriers will report full-year earnings of $0.67 per share for the current year, with EPS estimates ranging from ($0.22) to $1.16. For the next financial year, analysts forecast that the business will report earnings of $2.82 per share, with EPS estimates ranging from $2.22 to $3.76. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Monday, February 11th. The shipping company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Star Bulk Carriers had a net margin of 9.05% and a return on equity of 6.85%. The firm had revenue of $209.43 million during the quarter, compared to analysts’ expectations of $186.95 million.

A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a report on Friday, February 22nd. Morgan Stanley lowered shares of Star Bulk Carriers from an “overweight” rating to an “equal weight” rating in a report on Friday, February 15th. Finally, DNB Markets assumed coverage on shares of Star Bulk Carriers in a report on Friday, January 4th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Large investors have recently bought and sold shares of the company. Oaktree Capital Management LP raised its holdings in shares of Star Bulk Carriers by 11.8% in the 4th quarter. Oaktree Capital Management LP now owns 34,161,751 shares of the shipping company’s stock valued at $312,239,000 after purchasing an additional 3,603,984 shares in the last quarter. PEAK6 Investments LLC bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $1,249,000. Legal & General Group Plc bought a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $68,000. Marshall Wace LLP raised its holdings in shares of Star Bulk Carriers by 85.8% in the 3rd quarter. Marshall Wace LLP now owns 688,473 shares of the shipping company’s stock valued at $9,948,000 after purchasing an additional 317,857 shares in the last quarter. Finally, Jefferies Group LLC bought a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $220,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

SBLK traded down $0.31 on Friday, reaching $7.95. 360,773 shares of the company traded hands, compared to its average volume of 599,265. Star Bulk Carriers has a one year low of $6.16 and a one year high of $15.38. The firm has a market capitalization of $733.67 million, a price-to-earnings ratio of 7.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.34 and a quick ratio of 1.22.

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.

Featured Article: What is a recession?

Get a free copy of the Zacks research report on Star Bulk Carriers (SBLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.