Star Bulk Carriers (SBLK) Downgraded to Strong Sell at ValuEngine

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ValuEngine lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a sell rating to a strong sell rating in a report published on Tuesday morning.

SBLK has been the subject of several other research reports. Zacks Investment Research raised Star Bulk Carriers from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Tuesday, July 17th. BidaskClub lowered Star Bulk Carriers from a hold rating to a sell rating in a research note on Thursday, September 6th. Deutsche Bank set a $17.00 price objective on Star Bulk Carriers and gave the company a buy rating in a research note on Friday, September 28th. JPMorgan Chase & Co. set a $20.00 price objective on Star Bulk Carriers and gave the company a buy rating in a research note on Tuesday, September 11th. Finally, Seaport Global Securities reiterated a buy rating and issued a $20.00 price objective on shares of Star Bulk Carriers in a research note on Sunday, August 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $16.71.

Star Bulk Carriers stock traded down $0.05 during trading hours on Tuesday, hitting $10.53. The stock had a trading volume of 602,011 shares, compared to its average volume of 625,584. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The stock has a market cap of $700.28 million, a price-to-earnings ratio of -47.86 and a beta of 2.59. Star Bulk Carriers has a fifty-two week low of $8.62 and a fifty-two week high of $15.38.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $132.60 million during the quarter, compared to analysts’ expectations of $122.37 million. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. On average, analysts expect that Star Bulk Carriers will post 1.22 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Star Bulk Carriers by 78.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,098,899 shares of the shipping company’s stock worth $14,132,000 after acquiring an additional 482,319 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in Star Bulk Carriers by 99.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 792,113 shares of the shipping company’s stock worth $10,187,000 after acquiring an additional 395,397 shares during the last quarter. Millennium Management LLC grew its position in Star Bulk Carriers by 262.1% during the 1st quarter. Millennium Management LLC now owns 666,607 shares of the shipping company’s stock worth $7,753,000 after acquiring an additional 482,501 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Star Bulk Carriers during the 3rd quarter worth approximately $6,209,000. Finally, Marshall Wace LLP grew its position in Star Bulk Carriers by 10.1% during the 2nd quarter. Marshall Wace LLP now owns 370,616 shares of the shipping company’s stock worth $4,766,000 after acquiring an additional 34,082 shares during the last quarter. Institutional investors own 68.09% of the company’s stock.

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 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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