Star Bulk Carriers (NASDAQ:SBLK) Rating Lowered to “Buy” at Wall Street Zen

Star Bulk Carriers (NASDAQ:SBLK) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other brokerages also recently weighed in on SBLK. Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers presently has an average rating of “Hold” and an average target price of $22.00.

Star Bulk Carriers Price Performance

Shares of SBLK opened at $22.00 on Friday. The business has a 50-day moving average of $23.36 and a 200-day moving average of $20.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.65. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 30.14 and a beta of 0.73. Star Bulk Carriers has a 1 year low of $12.06 and a 1 year high of $27.20.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.52 by $0.10. The business had revenue of $230.79 million for the quarter, compared to analysts’ expectations of $250.51 million. Star Bulk Carriers had a return on equity of 3.89% and a net margin of 8.07%. As a group, equities research analysts anticipate that Star Bulk Carriers will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On Star Bulk Carriers

Institutional investors have recently made changes to their positions in the stock. USA Financial Formulas acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $26,000. Triumph Capital Management bought a new stake in Star Bulk Carriers in the 3rd quarter valued at about $26,000. Rhumbline Advisers raised its stake in Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. acquired a new position in Star Bulk Carriers during the 3rd quarter worth approximately $33,000. Finally, Morse Asset Management Inc bought a new stake in shares of Star Bulk Carriers during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.