$101.22 Million in Sales Expected for Star Bulk Carriers Corp. (SBLK) This Quarter

Equities research analysts forecast that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce $101.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Star Bulk Carriers’ earnings, with the lowest sales estimate coming in at $97.94 million and the highest estimate coming in at $104.51 million. Star Bulk Carriers posted sales of $63.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 60.1%. The firm is expected to report its next earnings results on Wednesday, February 28th.

On average, analysts expect that Star Bulk Carriers will report full year sales of $101.22 million for the current fiscal year, with estimates ranging from $322.21 million to $328.78 million. For the next fiscal year, analysts anticipate that the firm will post sales of $433.85 million per share, with estimates ranging from $428.94 million to $438.76 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Star Bulk Carriers.

A number of research firms recently weighed in on SBLK. Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, October 20th. Stifel Nicolaus set a $11.00 target price on shares of Star Bulk Carriers and gave the company a “hold” rating in a research report on Sunday, October 22nd. TheStreet downgraded shares of Star Bulk Carriers from a “c” rating to a “d+” rating in a research report on Thursday, September 28th. Finally, Jefferies Group began coverage on shares of Star Bulk Carriers in a research report on Monday, December 18th. They issued a “buy” rating and a $15.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Star Bulk Carriers currently has an average rating of “Buy” and an average price target of $13.00.

Several institutional investors and hedge funds have recently made changes to their positions in SBLK. Capital Fund Management S.A. bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $103,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $110,000. GLG Partners LP bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $127,000. State Street Corp bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $176,000. Finally, Neuberger Berman Group LLC grew its position in shares of Star Bulk Carriers by 3.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 31,146 shares of the shipping company’s stock valued at $306,000 after acquiring an additional 1,052 shares during the period. 70.43% of the stock is owned by institutional investors.

Star Bulk Carriers (NASDAQ:SBLK) traded down $0.30 during trading on Wednesday, reaching $11.82. 237,612 shares of the company were exchanged, compared to its average volume of 466,843. The company has a market capitalization of $777.54, a P/E ratio of -6.32 and a beta of 2.73. Star Bulk Carriers has a 1-year low of $6.09 and a 1-year high of $13.40. The company has a current ratio of 6.93, a quick ratio of 6.93 and a debt-to-equity ratio of 0.96.

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Star Bulk Carriers 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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