Brokerages Expect Star Bulk Carriers Corp. (SBLK) to Post $0.37 EPS

Brokerages expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report earnings per share (EPS) of $0.37 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Star Bulk Carriers’ earnings. The lowest EPS estimate is $0.34 and the highest is $0.38. Star Bulk Carriers reported earnings per share of ($0.08) in the same quarter last year, which indicates a positive year-over-year growth rate of 562.5%. The business is scheduled to report its next quarterly earnings results on Monday, November 19th.

On average, analysts expect that Star Bulk Carriers will report full-year earnings of $1.29 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.29. For the next fiscal year, analysts expect that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.73 to $2.62. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. The firm had revenue of $132.60 million for the quarter, compared to analysts’ expectations of $122.37 million.

Several research firms have weighed in on SBLK. Deutsche Bank set a $17.00 price target on Star Bulk Carriers and gave the company a “buy” rating in a report on Thursday. BidaskClub cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Zacks Investment Research raised Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, July 17th. ValuEngine cut Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Star Bulk Carriers in a report on Sunday, August 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.71.

Shares of NASDAQ:SBLK traded up $0.20 on Friday, hitting $10.58. The company’s stock had a trading volume of 920,719 shares, compared to its average volume of 433,372. Star Bulk Carriers has a 1 year low of $8.62 and a 1 year high of $15.38. The stock has a market cap of $775.16 million, a P/E ratio of -48.09 and a beta of 2.59. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co raised its holdings in shares of Star Bulk Carriers by 27.8% during the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after buying an additional 7,074 shares in the last quarter. WealthTrust Axiom LLC purchased a new position in shares of Star Bulk Carriers during the 3rd quarter valued at about $144,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Star Bulk Carriers during the 2nd quarter valued at about $142,000. Cubist Systematic Strategies LLC raised its holdings in shares of Star Bulk Carriers by 78.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 27,528 shares of the shipping company’s stock valued at $354,000 after buying an additional 12,069 shares in the last quarter. Finally, River & Mercantile Asset Management LLP raised its holdings in shares of Star Bulk Carriers by 4.1% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 359,246 shares of the shipping company’s stock valued at $4,618,000 after buying an additional 14,222 shares in the last quarter. 68.09% of the stock is currently owned by 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 August 29, 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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