Star Bulk Carriers (SBLK) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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Star Bulk Carriers (NASDAQ:SBLK) released its quarterly earnings results on Monday. The shipping company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06, Morningstar.com reports. The firm had revenue of $209.43 million for the quarter, compared to analysts’ expectations of $186.95 million. Star Bulk Carriers had a return on equity of 6.91% and a net margin of 12.83%.

Star Bulk Carriers stock traded up $0.16 during trading on Tuesday, reaching $8.15. The company had a trading volume of 242,120 shares, compared to its average volume of 626,496. 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 -37.05 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.

A number of institutional investors have recently made changes to their positions in the stock. Sippican Capital Advisors raised its holdings in Star Bulk Carriers by 27.5% in the 4th quarter. Sippican Capital Advisors now owns 16,062 shares of the shipping company’s stock worth $147,000 after purchasing an additional 3,462 shares during the period. Legal & General Group Plc bought a new position in Star Bulk Carriers in the 3rd quarter worth $68,000. WealthTrust Axiom LLC bought a new position in Star Bulk Carriers in the 3rd quarter worth $144,000. Virtu Financial LLC bought a new position in Star Bulk Carriers in the 3rd quarter worth $190,000. Finally, Jefferies Group LLC bought a new stake in Star Bulk Carriers during the third quarter valued at about $220,000. 78.00% of the stock is currently owned by institutional investors.

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

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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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Earnings History for Star Bulk Carriers (NASDAQ:SBLK)

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