Brokerages Set Star Bulk Carriers Corp. (NASDAQ:SBLK) Price Target at $13.50

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Star Bulk Carriers Corp. (NASDAQ:SBLK) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.50.

SBLK has been the subject of several analyst reports. BidaskClub cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. ValuEngine cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, October 10th. Finally, TheStreet cut shares of Star Bulk Carriers from a “c-” rating to a “d” rating in a report on Friday, August 9th.

Several large investors have recently modified their holdings of SBLK. Marshall Wace North America L.P. purchased a new stake in shares of Star Bulk Carriers during the 1st quarter worth approximately $47,000. Sippican Capital Advisors lifted its position in shares of Star Bulk Carriers by 14.1% during the 2nd quarter. Sippican Capital Advisors now owns 20,735 shares of the shipping company’s stock worth $200,000 after buying an additional 2,557 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers during the 2nd quarter worth approximately $109,000. SG Americas Securities LLC purchased a new stake in shares of Star Bulk Carriers during the 2nd quarter worth approximately $855,000. Finally, Advisor Group Inc. raised its position in 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 last quarter. Institutional investors and hedge funds own 57.03% of the company’s stock.

SBLK stock traded down $0.03 during trading on Thursday, reaching $10.02. 240,500 shares of the stock were exchanged, compared to its average volume of 582,067. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.88. Star Bulk Carriers has a 1 year low of $6.16 and a 1 year high of $11.81. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.03 and a beta of 1.64. The business has a 50 day moving average price of $10.70 and a 200-day moving average price of $9.59.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, August 7th. The shipping company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.09. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.12%. The company had revenue of $157.79 million during the quarter, compared to analysts’ expectations of $137.11 million. On average, research analysts anticipate that Star Bulk Carriers will post 0.4 EPS for the current year.

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 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.

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