Star Bulk Carriers Corp. (SBLK) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) from a hold rating to a buy rating in a research report released on Thursday. Zacks Investment Research 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. “
Several other analysts have also commented on the stock. Deutsche Bank AG reissued a hold rating on shares of Star Bulk Carriers Corp. in a research report on Wednesday, September 28th. Morgan Stanley reissued a sell rating and set a $3.00 price target on shares of Star Bulk Carriers Corp. in a research report on Friday, September 16th. Jefferies Group reissued a buy rating and set a $6.00 price target (up from $5.00) on shares of Star Bulk Carriers Corp. in a research report on Friday, September 16th. Seaport Global Securities reissued a neutral rating and set a $4.00 price target on shares of Star Bulk Carriers Corp. in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. raised shares of Star Bulk Carriers Corp. from a neutral rating to an overweight rating and set a $6.50 price target for the company in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Star Bulk Carriers Corp. presently has a consensus rating of Hold and a consensus price target of $4.33.
Star Bulk Carriers Corp. (NASDAQ:SBLK) traded down 1.4970% during trading on Thursday, hitting $4.9153. 74,373 shares of the company were exchanged. Star Bulk Carriers Corp. has a 1-year low of $1.55 and a 1-year high of $11.95. The stock’s market capitalization is $216.05 million. The firm’s 50 day moving average price is $4.57 and its 200-day moving average price is $4.10.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its quarterly 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 had revenue of $52.65 million for the quarter. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. Equities analysts predict that Star Bulk Carriers Corp. will post ($2.56) EPS for the current year.
A hedge fund recently raised its stake in Star Bulk Carriers Corp. stock. Geode Capital Management LLC increased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 0.06% of Star Bulk Carriers Corp. worth $102,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.53% of the company’s stock.
About Star Bulk Carriers Corp.
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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