Star Bulk Carriers (NASDAQ:SBLK) Posts Earnings Results, Beats Estimates By $0.25 EPS

Star Bulk Carriers (NASDAQ:SBLKGet Rating) announced its quarterly earnings data on Tuesday. The shipping company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.25, MarketWatch Earnings reports. Star Bulk Carriers had a net margin of 47.67% and a return on equity of 37.79%. During the same period in the previous year, the business posted $0.36 earnings per share.

NASDAQ SBLK opened at $32.79 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.35 and a debt-to-equity ratio of 0.64. Star Bulk Carriers has a 12-month low of $16.56 and a 12-month high of $33.88. The company has a market capitalization of $3.35 billion, a PE ratio of 4.92 and a beta of 0.89. The firm’s 50 day moving average is $29.51 and its 200-day moving average is $25.46.

SBLK has been the subject of a number of recent research reports. StockNews.com cut shares of Star Bulk Carriers from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 20th. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, April 28th. Jefferies Financial Group began coverage on shares of Star Bulk Carriers in a research report on Wednesday, April 27th. They set a “buy” rating for the company. HC Wainwright increased their price objective on shares of Star Bulk Carriers from $35.00 to $40.00 in a report on Friday, February 18th. Finally, Pareto Securities lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Wednesday, February 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $34.00.

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of Star Bulk Carriers by 638.7% in the first quarter. Renaissance Technologies LLC now owns 2,576,600 shares of the shipping company’s stock valued at $76,499,000 after buying an additional 2,227,800 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Star Bulk Carriers by 2.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,117,898 shares of the shipping company’s stock worth $62,880,000 after purchasing an additional 47,630 shares during the period. Goldman Sachs Group Inc. boosted its position in Star Bulk Carriers by 175.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,412,760 shares of the shipping company’s stock worth $41,944,000 after purchasing an additional 899,337 shares during the period. Morgan Stanley boosted its position in shares of Star Bulk Carriers by 5.7% in the second quarter. Morgan Stanley now owns 1,348,482 shares of the shipping company’s stock valued at $30,947,000 after acquiring an additional 73,254 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Star Bulk Carriers by 46.1% in the first quarter. BlackRock Inc. now owns 791,111 shares of the shipping company’s stock valued at $23,488,000 after acquiring an additional 249,770 shares during the period. 49.81% of the stock is owned by institutional investors and hedge funds.

About Star Bulk Carriers (Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's 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 December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

See Also

Earnings History for Star Bulk Carriers (NASDAQ:SBLK)

Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.