Analysts Anticipate Star Bulk Carriers Corp. (NASDAQ:SBLK) to Announce $2.21 EPS

Equities research analysts expect that Star Bulk Carriers Corp. (NASDAQ:SBLK) will announce earnings of $2.21 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Star Bulk Carriers’ earnings, with estimates ranging from $2.07 to $2.40. Star Bulk Carriers posted earnings of $0.28 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 689.3%. The firm is scheduled to report its next earnings report on Monday, November 15th.

On average, analysts expect that Star Bulk Carriers will report full-year earnings of $6.31 per share for the current year, with EPS estimates ranging from $5.83 to $7.23. For the next year, analysts anticipate that the firm will post earnings of $6.08 per share, with EPS estimates ranging from $4.40 to $7.40. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, August 4th. The shipping company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.18). Star Bulk Carriers had a net margin of 23.49% and a return on equity of 13.66%. The firm had revenue of $311.41 million for the quarter, compared to analysts’ expectations of $353.50 million.

A number of equities research analysts have issued reports on the company. SEB Equity Research assumed coverage on Star Bulk Carriers in a research report on Wednesday, June 2nd. They issued a “buy” rating on the stock. Zacks Investment Research lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Tuesday. HC Wainwright assumed coverage on Star Bulk Carriers in a research report on Monday, September 13th. They set a “buy” rating and a $35.00 target price on the stock. Finally, SEB Equities assumed coverage on Star Bulk Carriers in a research report on Wednesday, June 2nd. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $30.75.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Star Bulk Carriers by 194.2% in the 2nd quarter. FMR LLC now owns 10,223,972 shares of the shipping company’s stock valued at $234,640,000 after purchasing an additional 6,749,050 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Star Bulk Carriers by 353.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,384,982 shares of the shipping company’s stock valued at $54,735,000 after purchasing an additional 1,859,585 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Star Bulk Carriers by 7,948.6% in the 2nd quarter. SG Americas Securities LLC now owns 1,609,716 shares of the shipping company’s stock valued at $36,943,000 after purchasing an additional 1,589,716 shares during the last quarter. Morgan Stanley grew its stake in shares of Star Bulk Carriers by 5.7% in the 2nd quarter. Morgan Stanley now owns 1,348,482 shares of the shipping company’s stock valued at $30,947,000 after purchasing an additional 73,254 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Star Bulk Carriers by 15.2% in the 2nd quarter. Marshall Wace LLP now owns 1,335,258 shares of the shipping company’s stock valued at $30,643,000 after purchasing an additional 176,384 shares during the last quarter. 61.14% of the stock is currently owned by institutional investors.

Star Bulk Carriers stock traded up $0.28 during midday trading on Thursday, reaching $20.46. 32,272 shares of the stock traded hands, compared to its average volume of 1,696,908. The company has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $19.54. Star Bulk Carriers has a 12-month low of $6.12 and a 12-month high of $26.00. The firm has a market cap of $2.09 billion, a PE ratio of 9.56 and a beta of 1.18. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.53.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Monday, August 23rd were given a dividend of $0.70 per share. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, August 20th. This represents a $2.80 annualized dividend and a yield of 13.69%. Star Bulk Carriers’s payout ratio is 1,647.06%.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp. is a holding company, which engages in the provision of seaborne transportation solutions in the dry bulk sector. It ships iron ore, coal and grain, bauxite, fertilizers and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.

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