Star Bulk Carriers Corp. (SBLK) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) from a sell rating to a hold rating in a research note published on Monday morning.
Other research analysts also recently issued research reports about the company. Stifel Nicolaus set a $11.00 price objective on Star Bulk Carriers Corp. and gave the stock a hold rating in a report on Sunday, May 28th. TheStreet raised Star Bulk Carriers Corp. from a d+ rating to a c rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded Star Bulk Carriers Corp. from a hold rating to a sell rating in a report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a buy rating and set a $13.00 price objective on shares of Star Bulk Carriers Corp. in a report on Friday, May 26th. Finally, Seaport Global Securities raised Star Bulk Carriers Corp. from a neutral rating to a buy rating and upped their price objective for the stock from $11.50 to $13.00 in a report on Friday, May 26th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $12.50.
Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 10.90 on Monday. Star Bulk Carriers Corp. has a 1-year low of $4.00 and a 1-year high of $13.40. The company’s market cap is $690.36 million. The stock has a 50 day moving average price of $9.96 and a 200-day moving average price of $9.57.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last posted its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.04. Star Bulk Carriers Corp. had a negative return on equity of 5.59% and a negative net margin of 36.90%. The firm had revenue of $64.87 million for the quarter, compared to the consensus estimate of $64.27 million. Analysts predict that Star Bulk Carriers Corp. will post ($0.39) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new position in Star Bulk Carriers Corp. during the second quarter worth $110,000. Caspian Capital LP increased its position in Star Bulk Carriers Corp. by 10.7% in the second quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock worth $31,139,000 after buying an additional 306,341 shares during the period. State Street Corp bought a new position in Star Bulk Carriers Corp. during the second quarter worth $176,000. GLG Partners LP bought a new position in Star Bulk Carriers Corp. during the second quarter worth $127,000. Finally, Goldman Sachs Group Inc. increased its position in Star Bulk Carriers Corp. by 12.8% in the second quarter. Goldman Sachs Group Inc. now owns 49,515 shares of the shipping company’s stock worth $487,000 after buying an additional 5,619 shares during the period. 75.14% of the stock is currently owned by institutional investors.
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. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
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