Star Bulk Carriers Corp. (SBLK) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $5.50 price target on the stock.
According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “
A number of other research firms have also weighed in on SBLK. Jefferies Group restated a buy rating and set a $6.00 price objective (up from $5.00) on shares of Star Bulk Carriers Corp. in a research note on Friday, September 16th. Seaport Global Securities restated a neutral rating and set a $4.00 price objective on shares of Star Bulk Carriers Corp. in a research note on Tuesday, August 2nd. Morgan Stanley restated a sell rating and set a $3.00 price objective on shares of Star Bulk Carriers Corp. in a research note on Friday, September 16th. Deutsche Bank AG restated a hold rating on shares of Star Bulk Carriers Corp. in a research note on Wednesday, September 28th. Finally, JPMorgan Chase & Co. upgraded shares of Star Bulk Carriers Corp. from a neutral rating to an overweight rating and set a $6.50 price objective for the company in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $4.33.
Star Bulk Carriers Corp. (NASDAQ:SBLK) traded down 1.4970% during mid-day trading on Thursday, hitting $4.9153. 74,373 shares of the stock traded hands. The company’s 50 day moving average price is $4.57 and its 200-day moving average price is $4.10. Star Bulk Carriers Corp. has a 1-year low of $1.55 and a 1-year high of $11.95. The stock’s market cap is $216.05 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, September 14th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by $0.03. The firm had revenue of $52.65 million for the quarter. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. Analysts predict that Star Bulk Carriers Corp. will post ($2.56) earnings per share for the current year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Geode Capital Management LLC raised its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,746 shares of the company’s stock after buying an additional 53,743 shares during the period. Geode Capital Management LLC owned 0.06% of Star Bulk Carriers Corp. worth $102,000 as of its most recent SEC filing. Institutional investors and hedge funds own 75.53% of the company’s stock.
Star Bulk Carriers Corp. Company Profile
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Company will have a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 dwt and 209,537 deadweight tonnage (dwt).
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