Zacks: Brokerages Expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to Post -$0.28 EPS

Brokerages expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to announce ($0.28) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Star Bulk Carriers’ earnings, with estimates ranging from ($0.35) to ($0.21). Star Bulk Carriers posted earnings of ($0.22) per share in the same quarter last year, which would suggest a negative year over year growth rate of 27.3%. The firm is scheduled to announce its next earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that Star Bulk Carriers will report full year earnings of ($0.28) per share for the current year, with EPS estimates ranging from ($0.38) to ($0.18). For the next fiscal year, analysts anticipate that the business will post earnings of $1.68 per share, with EPS estimates ranging from $0.53 to $3.02. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Tuesday, May 26th. The shipping company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Star Bulk Carriers had a positive return on equity of 0.60% and a negative net margin of 0.99%. The firm had revenue of $160.86 million during the quarter, compared to analysts’ expectations of $165.18 million.

Several research firms have weighed in on SBLK. ValuEngine upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. BidaskClub cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research lowered Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Thursday, May 28th. Pareto Securities raised Star Bulk Carriers to a “buy” rating and set a $9.00 price objective on the stock in a research note on Tuesday, April 14th. Finally, DNB Markets downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and set a $10.40 price objective for the company. in a research note on Monday, March 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $9.85.

NASDAQ SBLK traded down $0.33 during trading hours on Friday, hitting $6.48. 487,185 shares of the company’s stock traded hands, compared to its average volume of 835,998. Star Bulk Carriers has a 52 week low of $3.86 and a 52 week high of $12.09. The firm has a market capitalization of $654.27 million, a P/E ratio of -58.90 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.69 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $7.64.

Several institutional investors have recently made changes to their positions in SBLK. Clearbridge Investments LLC grew its holdings in Star Bulk Carriers by 17.6% during the 1st quarter. Clearbridge Investments LLC now owns 147,010 shares of the shipping company’s stock valued at $829,000 after buying an additional 21,950 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Star Bulk Carriers by 21.6% during the first quarter. Voloridge Investment Management LLC now owns 31,172 shares of the shipping company’s stock valued at $176,000 after acquiring an additional 5,533 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Star Bulk Carriers in the 1st quarter valued at $272,000. Invesco Ltd. increased its holdings in Star Bulk Carriers by 122.8% in the 1st quarter. Invesco Ltd. now owns 110,807 shares of the shipping company’s stock valued at $625,000 after acquiring an additional 61,074 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Star Bulk Carriers in the 1st quarter worth $152,000. Institutional investors and hedge funds own 58.10% 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 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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