Zacks: Brokerages Expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to Post $0.25 Earnings Per Share

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Equities analysts forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce earnings of $0.25 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Star Bulk Carriers’ earnings. The lowest EPS estimate is $0.24 and the highest is $0.26. Star Bulk Carriers reported earnings of $0.33 per share in the same quarter last year, which indicates a negative year over year growth rate of 24.2%. The company is scheduled to report its next quarterly earnings report on Monday, February 10th.

According to Zacks, analysts expect that Star Bulk Carriers will report full-year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.12 to $0.14. For the next year, analysts anticipate that the company will post earnings of $2.73 per share, with EPS estimates ranging from $2.54 to $2.92. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, November 20th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $248.44 million for the quarter, compared to analyst estimates of $215.35 million. Star Bulk Carriers had a positive return on equity of 1.24% and a negative net margin of 3.50%.

A number of equities research analysts have recently issued reports on SBLK shares. Zacks Investment Research lowered Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. BidaskClub raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised Star Bulk Carriers from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 28th. TheStreet lowered Star Bulk Carriers from a “c-” rating to a “d” rating in a research report on Friday, August 9th. Finally, Pareto Securities lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Shares of Star Bulk Carriers stock traded up $0.08 on Wednesday, reaching $10.72. 489,711 shares of the company were exchanged, compared to its average volume of 580,872. The stock has a fifty day moving average price of $10.69 and a 200-day moving average price of $9.86. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.66 and a beta of 1.69. 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 fifty-two week low of $6.16 and a fifty-two week high of $11.81.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, November 29th. Star Bulk Carriers’s payout ratio is 18.02%.

A number of large investors have recently bought and sold shares of the stock. Oaktree Capital Management LP raised its position in Star Bulk Carriers by 5.7% during the second quarter. Oaktree Capital Management LP now owns 37,413,697 shares of the shipping company’s stock valued at $361,043,000 after buying an additional 2,029,500 shares during the period. Impala Asset Management LLC raised its position in Star Bulk Carriers by 4.9% during the second quarter. Impala Asset Management LLC now owns 3,810,325 shares of the shipping company’s stock valued at $36,770,000 after buying an additional 178,799 shares during the period. Renaissance Technologies LLC raised its position in Star Bulk Carriers by 7.8% during the second quarter. Renaissance Technologies LLC now owns 1,993,426 shares of the shipping company’s stock valued at $19,237,000 after buying an additional 145,000 shares during the period. Phoenix Holdings Ltd. acquired a new position in Star Bulk Carriers during the third quarter valued at $3,417,000. Finally, Parametric Portfolio Associates LLC raised its position in Star Bulk Carriers by 7.0% during the second quarter. Parametric Portfolio Associates LLC now owns 233,826 shares of the shipping company’s stock valued at $2,256,000 after buying an additional 15,212 shares during the period. 54.83% 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 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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Earnings History and Estimates for Star Bulk Carriers (NASDAQ:SBLK)

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