Equities analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report sales of $81.23 million for the current quarter, Zacks reports. Three analysts have issued estimates for Star Bulk Carriers Corp.’s earnings, with the lowest sales estimate coming in at $72.83 million and the highest estimate coming in at $87.18 million. Star Bulk Carriers Corp. reported sales of $59.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.6%. The business is expected to announce its next quarterly earnings report before the market opens on Monday, November 20th.

According to Zacks, analysts expect that Star Bulk Carriers Corp. will report full-year sales of $81.23 million for the current fiscal year, with estimates ranging from $323.67 million to $338.14 million. For the next year, analysts forecast that the business will report sales of $432.33 million per share, with estimates ranging from $430.86 million to $433.79 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Star Bulk Carriers Corp..

SBLK has been the topic of several analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $15.00 price objective on shares of Star Bulk Carriers Corp. in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Pareto Securities upgraded shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub upgraded shares of Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, TheStreet downgraded shares of Star Bulk Carriers Corp. from a “c” rating to a “d+” rating in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $13.00.

A number of large investors have recently modified their holdings of the business. California Public Employees Retirement System increased its stake in Star Bulk Carriers Corp. by 10.8% in the third quarter. California Public Employees Retirement System now owns 281,888 shares of the shipping company’s stock valued at $2,737,000 after purchasing an additional 27,488 shares in the last quarter. Oaktree Capital Management LP increased its stake in Star Bulk Carriers Corp. by 0.4% in the third quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock valued at $316,347,000 after purchasing an additional 140,000 shares in the last quarter. Royce & Associates LP increased its stake in Star Bulk Carriers Corp. by 6.9% in the third quarter. Royce & Associates LP now owns 217,000 shares of the shipping company’s stock valued at $2,107,000 after purchasing an additional 14,000 shares in the last quarter. Impala Asset Management LLC increased its stake in Star Bulk Carriers Corp. by 121.3% in the third quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock valued at $41,833,000 after purchasing an additional 2,361,428 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Star Bulk Carriers Corp. during the third quarter worth $1,105,000. 74.11% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Corp. (NASDAQ SBLK) opened at $9.60 on Friday. Star Bulk Carriers Corp. has a twelve month low of $4.63 and a twelve month high of $13.40. The company has a quick ratio of 6.93, a current ratio of 6.93 and a debt-to-equity ratio of 0.96.

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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. 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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