Analysts Set Expectations for Star Bulk Carriers Corp.’s Q4 2019 Earnings (SBLK)

Star Bulk Carriers Corp. (NASDAQ:SBLK) – Equities research analysts at Jefferies Financial Group cut their Q4 2019 earnings estimates for Star Bulk Carriers in a note issued to investors on Tuesday, February 12th. Jefferies Financial Group analyst R. Giveans now anticipates that the shipping company will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.19. Jefferies Financial Group also issued estimates for Star Bulk Carriers’ FY2020 earnings at $2.47 EPS.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Monday, February 11th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.06. Star Bulk Carriers had a return on equity of 6.91% and a net margin of 12.83%. The business had revenue of $209.43 million for the quarter, compared to analyst estimates of $186.95 million.

A number of other equities analysts also recently weighed in on SBLK. BidaskClub downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. ValuEngine downgraded Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Deutsche Bank set a $17.00 price target on Star Bulk Carriers and gave the stock a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research downgraded Star Bulk Carriers from a “hold” rating to a “strong sell” rating in a research report on Friday, November 30th. Finally, DNB Markets began coverage on Star Bulk Carriers in a research report on Friday, January 4th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $17.00.

SBLK opened at $7.99 on Thursday. Star Bulk Carriers has a 52-week low of $6.90 and a 52-week high of $15.38. The stock has a market cap of $539.04 million, a P/E ratio of -36.32 and a beta of 1.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59.

Hedge funds and other institutional investors have recently made changes to their positions in the business. York Capital Management Global Advisors LLC acquired a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $79,189,000. Renaissance Technologies LLC lifted its stake in shares of Star Bulk Carriers by 40.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,539,336 shares of the shipping company’s stock valued at $22,243,000 after acquiring an additional 440,437 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Star Bulk Carriers by 85.8% in the 3rd quarter. Marshall Wace LLP now owns 688,473 shares of the shipping company’s stock valued at $9,948,000 after acquiring an additional 317,857 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Star Bulk Carriers in the 3rd quarter valued at $6,209,000. Finally, Morgan Stanley lifted its stake in shares of Star Bulk Carriers by 167.8% in the 3rd quarter. Morgan Stanley now owns 339,742 shares of the shipping company’s stock valued at $4,909,000 after acquiring an additional 212,861 shares during the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

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 October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.

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Earnings History and Estimates for Star Bulk Carriers (NASDAQ:SBLK)

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