Star Bulk Carriers Corp. (SBLK) Stock Rating Upgraded by Pareto Securities
Star Bulk Carriers Corp. (NASDAQ:SBLK) was upgraded by equities researchers at Pareto Securities from a “hold” rating to a “buy” rating in a research note issued on Monday.
A number of other equities research analysts have also recently weighed in on SBLK. Zacks Investment Research raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a research report on Tuesday, June 14th. JPMorgan Chase & Co. raised shares of Star Bulk Carriers Corp. from a “neutral” rating to an “overweight” rating and set a $6.50 target price for the company in a report on Tuesday, July 19th. Seaport Global Securities reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Star Bulk Carriers Corp. in a report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $6.00 target price (up from $5.00) on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. Finally, Morgan Stanley reaffirmed a “sell” rating and issued a $3.00 target price on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $4.33.
Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 4.77 on Monday. The stock’s market capitalization is $209.67 million. Star Bulk Carriers Corp. has a 52 week low of $1.55 and a 52 week high of $11.95. The company has a 50-day moving average of $4.59 and a 200-day moving average of $4.11.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its quarterly earnings results 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. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. The company earned $52.65 million during the quarter. Analysts anticipate that Star Bulk Carriers Corp. will post ($2.56) earnings per share for the current year.
A hedge fund recently raised its stake in Star Bulk Carriers Corp. stock. Geode Capital Management LLC boosted 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 (SEC). 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 about 0.06% of Star Bulk Carriers Corp. worth $102,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 75.53% of the company’s stock.
About Star Bulk Carriers Corp.
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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