Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) from a hold rating to a buy rating in a report issued on Thursday. The brokerage currently has $5.50 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. “
Other analysts also recently issued research reports about the stock. Jefferies Group restated a buy rating and set a $6.00 price objective (up previously from $5.00) on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. Deutsche Bank AG restated a hold rating on shares of Star Bulk Carriers Corp. in a report on Wednesday, September 28th. Seaport Global Securities restated a neutral rating and set a $4.00 price objective on shares of Star Bulk Carriers Corp. in a report on Tuesday, August 2nd. JPMorgan Chase & Co. upgraded shares of Star Bulk Carriers Corp. from a neutral rating to an overweight rating and set a $6.50 price objective for the company in a report on Tuesday, July 19th. Finally, Morgan Stanley restated a sell rating and set a $3.00 price objective on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $4.33.
Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 4.66 on Thursday. The stock’s 50 day moving average is $4.62 and its 200-day moving average is $4.13. Star Bulk Carriers Corp. has a one year low of $1.55 and a one year high of $11.70. The company’s market cap is $204.83 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its earnings results on Wednesday, September 14th. The company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The firm earned $52.65 million during the quarter. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. Equities research analysts forecast that Star Bulk Carriers Corp. will post ($2.56) earnings per share for the current year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Geode Capital Management LLC boosted its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,746 shares of the company’s stock after buying an additional 53,743 shares during the period. Geode Capital Management LLC owned 0.06% of Star Bulk Carriers Corp. worth $102,000 as of its most recent SEC filing. Institutional investors own 75.53% of the company’s stock.
Star Bulk Carriers Corp. Company Profile
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Company will have a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 dwt and 209,537 deadweight tonnage (dwt).
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