Zacks: Analysts Anticipate Star Bulk Carriers Corp. (NASDAQ:SBLK) to Announce -$0.34 Earnings Per Share

Equities research analysts predict that Star Bulk Carriers Corp. (NASDAQ:SBLK) will post earnings of ($0.34) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Star Bulk Carriers’ earnings, with the lowest EPS estimate coming in at ($0.40) and the highest estimate coming in at ($0.30). Star Bulk Carriers posted earnings per share of $0.21 in the same quarter last year, which would suggest a negative year over year growth rate of 261.9%. The company is scheduled to announce its next earnings results on Tuesday, August 6th.

On average, analysts expect that Star Bulk Carriers will report full year earnings of ($0.49) per share for the current financial year, with EPS estimates ranging from ($0.67) to ($0.30). For the next year, analysts expect that the company will post earnings of $2.18 per share, with EPS estimates ranging from $1.70 to $2.66. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, May 22nd. The shipping company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Star Bulk Carriers had a net margin of 6.28% and a return on equity of 4.91%. The firm had revenue of $166.49 million during the quarter, compared to the consensus estimate of $154.10 million.



A number of research analysts have recently commented on the company. Deutsche Bank set a $15.00 price target on Star Bulk Carriers and gave the company a “buy” rating in a research note on Friday, May 24th. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Star Bulk Carriers has a consensus rating of “Buy” and an average price target of $17.75.

Shares of SBLK traded down $0.26 during trading hours on Friday, reaching $10.65. The stock had a trading volume of 650,125 shares, compared to its average volume of 479,924. Star Bulk Carriers has a 12 month low of $6.16 and a 12 month high of $15.38. The company has a market cap of $1.01 billion, a PE ratio of 9.59 and a beta of 1.87. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.34 and a quick ratio of 1.22. The stock has a 50-day moving average price of $9.06.

A number of large investors have recently made changes to their positions in SBLK. Cetera Advisor Networks LLC acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $123,000. Oaktree Capital Management LP grew its stake in shares of Star Bulk Carriers by 11.8% in the 4th quarter. Oaktree Capital Management LP now owns 34,161,751 shares of the shipping company’s stock valued at $312,239,000 after buying an additional 3,603,984 shares during the period. Anchor Bolt Capital LP grew its stake in shares of Star Bulk Carriers by 96.1% in the 4th quarter. Anchor Bolt Capital LP now owns 1,036,094 shares of the shipping company’s stock valued at $9,470,000 after buying an additional 507,634 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Star Bulk Carriers by 18.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 67,700 shares of the shipping company’s stock valued at $445,000 after buying an additional 10,500 shares during the period. Finally, Evermore Global Advisors LLC acquired a new stake in shares of Star Bulk Carriers in the 1st quarter valued at about $9,531,000. 56.65% of the stock is owned by institutional investors and hedge funds.

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 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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Earnings History and Estimates for Star Bulk Carriers (NASDAQ:SBLK)

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