Star Bulk Carriers Corp. (SBLK) Receives Consensus Recommendation of “Buy” from Brokerages

Star Bulk Carriers Corp. (NASDAQ:SBLK) has been given a consensus rating of “Buy” by the ten analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $15.42.

Several brokerages recently issued reports on SBLK. BidaskClub lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 19th. JPMorgan Chase & Co. upped their target price on shares of Star Bulk Carriers from $17.00 to $17.50 and gave the stock an “overweight” rating in a research report on Friday, March 23rd. Seaport Global Securities set a $16.00 target price on shares of Star Bulk Carriers and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley cut their target price on shares of Star Bulk Carriers from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, February 12th.

Star Bulk Carriers opened at $12.82 on Thursday, according to MarketBeat.com. The firm has a market cap of $803.84 million, a PE ratio of -58.27 and a beta of 2.28. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 0.77. Star Bulk Carriers has a one year low of $7.61 and a one year high of $14.25.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, February 27th. The shipping company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Star Bulk Carriers had a negative net margin of 2.94% and a negative return on equity of 0.44%. The firm had revenue of $107.71 million during the quarter, compared to analyst estimates of $107.10 million. sell-side analysts forecast that Star Bulk Carriers will post 0.98 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in SBLK. Atlantic Trust Group LLC grew its position in Star Bulk Carriers by 79.0% in the first quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock worth $109,000 after acquiring an additional 4,132 shares in the last quarter. Jump Trading LLC purchased a new position in Star Bulk Carriers in the first quarter worth $128,000. Capital Fund Management S.A. bought a new stake in Star Bulk Carriers in the fourth quarter worth $145,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Star Bulk Carriers in the first quarter worth $162,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Star Bulk Carriers in the first quarter worth $180,000. Institutional investors own 69.17% 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 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.

Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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