Star Bulk Carriers (SBLK) Lowered to Equal Weight at Morgan Stanley

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Morgan Stanley lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from an overweight rating to an equal weight rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports.

A number of other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Star Bulk Carriers from a sell rating to a strong sell rating in a research note on Tuesday, November 6th. DNB Markets started coverage on shares of Star Bulk Carriers in a research note on Friday, January 4th. They issued a buy rating on the stock. BidaskClub downgraded shares of Star Bulk Carriers from a hold rating to a sell rating in a research note on Friday, October 26th. Deutsche Bank set a $17.00 price target on shares of Star Bulk Carriers and gave the stock a buy rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research downgraded shares of Star Bulk Carriers from a hold rating to a strong sell rating in a research note on Friday, November 30th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Star Bulk Carriers presently has a consensus rating of Hold and a consensus target price of $17.00.

Shares of SBLK stock opened at $8.20 on Friday. Star Bulk Carriers has a 52 week low of $6.90 and a 52 week high of $15.38. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $553.21 million, a PE ratio of 7.39 and a beta of 1.64.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Monday, February 11th. The shipping company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.06. Star Bulk Carriers had a net margin of 9.05% and a return on equity of 7.65%. The business had revenue of $209.43 million for the quarter, compared to the consensus estimate of $186.95 million. On average, equities analysts expect that Star Bulk Carriers will post 0.8 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in SBLK. York Capital Management Global Advisors LLC purchased a new stake in Star Bulk Carriers during the 3rd quarter worth $79,189,000. Oaktree Capital Management LP increased its stake in Star Bulk Carriers by 11.8% during the 4th quarter. Oaktree Capital Management LP now owns 34,161,751 shares of the shipping company’s stock worth $312,239,000 after buying an additional 3,603,984 shares during the period. Anchor Bolt Capital LP increased its stake in Star Bulk Carriers by 96.1% during the 4th quarter. Anchor Bolt Capital LP now owns 1,036,094 shares of the shipping company’s stock worth $9,470,000 after buying an additional 507,634 shares during the period. Renaissance Technologies LLC increased its stake in Star Bulk Carriers by 40.1% during the 3rd quarter. Renaissance Technologies LLC now owns 1,539,336 shares of the shipping company’s stock worth $22,243,000 after buying an additional 440,437 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in Star Bulk Carriers during the 3rd quarter worth $6,209,000. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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