Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $93.92 Million

Wall Street brokerages forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post $93.92 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Star Bulk Carriers’ earnings. The lowest sales estimate is $79.30 million and the highest is $104.51 million. Star Bulk Carriers posted sales of $63.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 48.5%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Star Bulk Carriers will report full-year sales of $93.92 million for the current year, with estimates ranging from $254.20 million to $328.78 million. For the next financial year, analysts forecast that the firm will post sales of $381.27 million per share, with estimates ranging from $276.10 million to $438.76 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Star Bulk Carriers.

Several analysts have issued reports on SBLK shares. TheStreet raised shares of Star Bulk Carriers from a “d+” rating to a “c” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Pareto Securities upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Jefferies Group restated a “buy” rating and issued a $15.00 price target on shares of Star Bulk Carriers in a research note on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oaktree Capital Management LP lifted its position in Star Bulk Carriers by 0.4% in the third quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock valued at $316,347,000 after purchasing an additional 140,000 shares during the last quarter. Impala Asset Management LLC raised its holdings in Star Bulk Carriers by 121.3% in the third quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock worth $41,833,000 after purchasing an additional 2,361,428 shares in the last quarter. Caspian Capital LP raised its holdings in Star Bulk Carriers by 10.7% in the second quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock worth $31,139,000 after purchasing an additional 306,341 shares in the last quarter. Horseman Capital Management Ltd grew its stake in shares of Star Bulk Carriers by 10.8% in the third quarter. Horseman Capital Management Ltd now owns 954,600 shares of the shipping company’s stock worth $9,269,000 after acquiring an additional 93,400 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Star Bulk Carriers in the second quarter worth $4,046,000. 70.43% of the stock is owned by institutional investors.

Shares of Star Bulk Carriers (NASDAQ:SBLK) remained flat at $$10.68 during trading hours on Thursday. The company had a trading volume of 458,200 shares, compared to its average volume of 578,885. Star Bulk Carriers has a 1-year low of $4.63 and a 1-year high of $13.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 6.93 and a current ratio of 6.93.

COPYRIGHT VIOLATION WARNING: “Star Bulk Carriers Corp. (SBLK) Expected to Announce Quarterly Sales of $93.92 Million” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.chaffeybreeze.com/2017/12/07/star-bulk-carriers-corp-sblk-expected-to-announce-quarterly-sales-of-93-92-million.html.

About Star Bulk Carriers

Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).

Get a free copy of the Zacks research report on Star Bulk Carriers (SBLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Star Bulk Carriers Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply