Star Bulk Carriers Corp. (NASDAQ:SBLK) Expected to Post Earnings of $0.16 Per Share

Analysts predict that Star Bulk Carriers Corp. (NASDAQ:SBLK) will report earnings of $0.16 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Star Bulk Carriers’ earnings. The highest EPS estimate is $0.28 and the lowest is $0.03. Star Bulk Carriers reported earnings per share of $0.35 in the same quarter last year, which would suggest a negative year-over-year growth rate of 54.3%. The company is expected to issue its next earnings report on Tuesday, November 19th.

On average, analysts expect that Star Bulk Carriers will report full-year earnings of $0.14 per share for the current financial year, with EPS estimates ranging from ($0.06) to $0.33. For the next financial year, analysts anticipate that the firm will report earnings of $2.58 per share, with EPS estimates ranging from $2.55 to $2.60. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.09. The firm had revenue of $157.79 million during the quarter, compared to analysts’ expectations of $137.11 million. Star Bulk Carriers had a positive return on equity of 2.12% and a negative net margin of 0.99%.

Several analysts have weighed in on the company. ValuEngine raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Thursday, October 10th. BidaskClub cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet cut Star Bulk Carriers from a “c-” rating to a “d” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $13.50.

Several institutional investors have recently bought and sold shares of SBLK. Advisor Group Inc. grew its position in shares of Star Bulk Carriers by 839.5% in the 2nd quarter. Advisor Group Inc. now owns 3,570 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 3,190 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Star Bulk Carriers in the 1st quarter valued at approximately $47,000. Wells Fargo & Company MN acquired a new position in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $102,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $109,000. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $120,000. Institutional investors own 56.72% of the company’s stock.

NASDAQ:SBLK traded up $0.15 on Friday, hitting $11.06. 568,300 shares of the stock were exchanged, compared to its average volume of 572,198. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.94 and a beta of 1.61. Star Bulk Carriers has a 52 week low of $6.16 and a 52 week high of $13.39. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.64 and a current ratio of 0.82. The company’s 50-day moving average price is $10.54 and its 200 day moving average price is $9.19.

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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

Further Reading: Diluted Earnings Per Share

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

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