Analysts’ Weekly Ratings Changes for Star Bulk Carriers (SBLK)

A number of firms have modified their ratings and price targets on shares of Star Bulk Carriers (NASDAQ: SBLK) recently:

  • 10/16/2019 – Star Bulk Carriers was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/10/2019 – Star Bulk Carriers was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock. 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. “
  • 10/9/2019 – Star Bulk Carriers was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 10/9/2019 – Star Bulk Carriers was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/4/2019 – Star Bulk Carriers was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $11.00 price target on the stock. 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. “
  • 10/2/2019 – Star Bulk Carriers was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 9/19/2019 – Star Bulk Carriers was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

NASDAQ:SBLK opened at $10.98 on Wednesday. Star Bulk Carriers Corp. has a one year low of $6.16 and a one year high of $12.66. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.64 and a current ratio of 0.82. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 9.89 and a beta of 1.61. The firm’s fifty day moving average is $10.64 and its two-hundred day moving average is $9.32.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, August 7th. The shipping company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.09. The company had revenue of $157.79 million for the quarter, compared to analyst estimates of $137.11 million. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.12%. As a group, equities research analysts predict that Star Bulk Carriers Corp. will post 0.3 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the business. Oaktree Capital Management LP lifted its stake in shares of Star Bulk Carriers by 5.7% in the second quarter. Oaktree Capital Management LP now owns 37,413,697 shares of the shipping company’s stock valued at $361,043,000 after purchasing an additional 2,029,500 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at about $139,000. Paloma Partners Management Co acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at about $228,000. Marshall Wace North America L.P. lifted its stake in shares of Star Bulk Carriers by 685.1% in the second quarter. Marshall Wace North America L.P. now owns 55,807 shares of the shipping company’s stock valued at $538,000 after purchasing an additional 48,699 shares during the period. Finally, Impala Asset Management LLC lifted its stake in shares of Star Bulk Carriers by 4.9% in the second quarter. Impala Asset Management LLC now owns 3,810,325 shares of the shipping company’s stock valued at $36,770,000 after purchasing an additional 178,799 shares during the period. Institutional investors and hedge funds own 56.72% of the company’s stock.

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

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