Star Bulk Carriers Corp. (NASDAQ:SBLK) Receives $15.00 Consensus Target Price from Brokerages

Star Bulk Carriers Corp. (NASDAQ:SBLK) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.00.

A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 17th. BidaskClub lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet lowered shares of Star Bulk Carriers from a “c-” rating to a “d” rating in a research note on Friday, August 9th. ValuEngine upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank set a $15.00 price target on shares of Star Bulk Carriers and gave the company a “buy” rating in a research note on Friday, May 24th.

Large investors have recently made changes to their positions in the business. Oaktree Capital Management LP increased its stake in shares of Star Bulk Carriers by 3.6% in the first quarter. Oaktree Capital Management LP now owns 35,384,197 shares of the shipping company’s stock valued at $232,827,000 after purchasing an additional 1,222,446 shares during the period. Sippican Capital Advisors increased its stake in shares of Star Bulk Carriers by 14.1% in the second quarter. Sippican Capital Advisors now owns 20,735 shares of the shipping company’s stock valued at $200,000 after purchasing an additional 2,557 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at approximately $109,000. Impala Asset Management LLC increased its stake in shares of Star Bulk Carriers by 4.9% in 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 purchasing an additional 178,799 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at approximately $855,000. Institutional investors own 56.72% of the company’s stock.

NASDAQ SBLK traded up $0.05 during trading hours on Wednesday, reaching $10.21. The company’s stock had a trading volume of 420,036 shares, compared to its average volume of 601,003. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 0.84. The business has a 50-day simple moving average of $10.02 and a 200 day simple moving average of $8.73. Star Bulk Carriers has a 52 week low of $6.16 and a 52 week high of $15.38. The stock has a market cap of $964.38 million, a PE ratio of 28.24 and a beta of 1.67.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Wednesday, August 7th. The shipping company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.09. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.09%. The firm had revenue of $157.79 million for the quarter, compared to analysts’ expectations of $137.11 million. As a group, equities analysts predict that Star Bulk Carriers will post 0.18 EPS for the current year.

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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