Wall Street brokerages forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will report earnings of $0.25 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Star Bulk Carriers’ earnings, with estimates ranging from $0.24 to $0.26. Star Bulk Carriers reported earnings of $0.33 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 24.2%. The firm is scheduled to issue its next earnings report on Monday, February 10th.
On average, analysts expect that Star Bulk Carriers will report full year earnings of $0.13 per share for the current financial year, with EPS estimates ranging from $0.12 to $0.14. For the next year, analysts forecast that the business will report earnings of $2.73 per share, with EPS estimates ranging from $2.54 to $2.92. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Star Bulk Carriers.
Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, November 20th. The shipping company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $248.44 million during the quarter, compared to the consensus estimate of $215.35 million. Star Bulk Carriers had a negative net margin of 3.50% and a positive return on equity of 1.24%.
Several research analysts recently commented on the stock. Pareto Securities downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. BidaskClub raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. ValuEngine raised shares of Star Bulk Carriers from a “strong sell” rating to a “sell” rating in a report on Thursday, November 28th. Finally, TheStreet downgraded shares of Star Bulk Carriers from a “c-” rating to a “d” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Star Bulk Carriers currently has a consensus rating of “Hold” and a consensus target price of $13.50.
A number of large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Star Bulk Carriers by 1,165.6% in the 3rd quarter. Barclays PLC now owns 16,503 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 15,199 shares during the period. Phoenix Holdings Ltd. bought a new position in Star Bulk Carriers in the 3rd quarter valued at $3,417,000. State Street Corp boosted its holdings in Star Bulk Carriers by 9.3% in the 3rd quarter. State Street Corp now owns 85,028 shares of the shipping company’s stock valued at $856,000 after purchasing an additional 7,235 shares during the period. Cetera Advisor Networks LLC boosted its holdings in Star Bulk Carriers by 15.6% in the 3rd quarter. Cetera Advisor Networks LLC now owns 14,474 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 1,956 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in Star Bulk Carriers in the 3rd quarter valued at $32,000. 54.83% of the stock is owned by hedge funds and other institutional investors.
SBLK traded up $0.08 on Wednesday, hitting $10.72. The company’s stock had a trading volume of 489,711 shares, compared to its average volume of 580,872. The company’s 50 day simple moving average is $10.69 and its 200-day simple moving average is $9.86. The firm has a market cap of $1.01 billion, a P/E ratio of 9.66 and a beta of 1.69. Star Bulk Carriers has a 12 month low of $6.16 and a 12 month high of $11.81. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 29th. Star Bulk Carriers’s payout ratio is 18.02%.
Star Bulk Carriers Company Profile
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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