Star Bulk Carriers Co. (SBLK) Expected to Announce Quarterly Sales of $95.85 Million

Analysts forecast that Star Bulk Carriers Co. (NASDAQ:SBLK) will post sales of $95.85 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Star Bulk Carriers’ earnings. The lowest sales estimate is $84.88 million and the highest is $104.35 million. Star Bulk Carriers posted sales of $64.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 47.8%. The business is scheduled to report its next earnings results on Wednesday, May 23rd.

According to Zacks, analysts expect that Star Bulk Carriers will report full year sales of $95.85 million for the current year, with estimates ranging from $367.74 million to $472.41 million. For the next year, analysts forecast that the firm will report sales of $440.82 million per share, with estimates ranging from $389.44 million to $502.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Star Bulk Carriers.

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Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Tuesday, February 27th. The shipping company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.11. The business had revenue of $107.71 million during the quarter, compared to the consensus estimate of $107.10 million. Star Bulk Carriers had a negative return on equity of 0.44% and a negative net margin of 2.94%.

SBLK has been the subject of several research analyst reports. Seaport Global Securities set a $16.00 target price on Star Bulk Carriers and gave the stock a “buy” rating in a research note on Wednesday, February 28th. BidaskClub cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Stifel Nicolaus raised their price objective on shares of Star Bulk Carriers from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, March 1st. Morgan Stanley increased their target price on Star Bulk Carriers from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.58.

Shares of SBLK stock traded down $0.58 during trading hours on Thursday, hitting $10.82. 233,661 shares of the company’s stock were exchanged, compared to its average volume of 291,771. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.43 and a quick ratio of 1.34. The company has a market cap of $694.14, a price-to-earnings ratio of -49.18 and a beta of 2.26. Star Bulk Carriers has a fifty-two week low of $7.57 and a fifty-two week high of $13.40.

Several large investors have recently made changes to their positions in SBLK. Capital Fund Management S.A. purchased a new position in Star Bulk Carriers in the 4th quarter valued at $145,000. State Street Corp acquired a new position in shares of Star Bulk Carriers in the 2nd quarter worth $176,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Star Bulk Carriers by 65.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 18,577 shares of the shipping company’s stock worth $181,000 after acquiring an additional 7,373 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Star Bulk Carriers in the 4th quarter worth $272,000. Finally, LPL Financial LLC grew its holdings in shares of Star Bulk Carriers by 86.5% in the 4th quarter. LPL Financial LLC now owns 24,431 shares of the shipping company’s stock worth $275,000 after acquiring an additional 11,331 shares during the last quarter. Hedge funds and other institutional investors own 69.59% of the company’s stock.

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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 bulk commodities, including ores, coal, grains, fertilizers, and steel products. As of March 9, 2017, the company had a fleet of 68 operating vessels and 4 newbuilding vessels, as well as operated a chartered-in Supramax vessel.

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