Star Bulk Carriers Corp. (SBLK) Downgraded to “Hold” at Zacks Investment Research
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. “
Other equities research analysts also recently issued research reports about the stock. Pareto Securities upgraded shares of Star Bulk Carriers Corp. from a hold rating to a buy rating in a research note on Monday, October 10th. JPMorgan Chase & Co. upgraded shares of Star Bulk Carriers Corp. from a neutral rating to an overweight rating and set a $6.50 target price on the stock in a research note on Tuesday, July 19th. Deutsche Bank AG restated a hold rating on shares of Star Bulk Carriers Corp. in a research note on Wednesday, September 28th. Morgan Stanley restated a sell rating and issued a $3.00 target price on shares of Star Bulk Carriers Corp. in a research note on Friday, September 16th. Finally, Seaport Global Securities restated a neutral rating and issued a $4.00 target price on shares of Star Bulk Carriers Corp. in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Star Bulk Carriers Corp. currently has a consensus rating of Hold and a consensus target price of $4.33.
Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 5.23 on Friday. The stock has a 50 day moving average of $4.62 and a 200 day moving average of $4.16. The firm’s market cap is $229.88 million. Star Bulk Carriers Corp. has a 52 week low of $1.55 and a 52 week high of $7.30.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, September 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The business earned $52.65 million during the quarter. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. Analysts anticipate that Star Bulk Carriers Corp. will post ($2.53) EPS for the current year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Geode Capital Management LLC boosted its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter. 59.38% of the stock is currently owned by institutional investors and hedge funds.
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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