ValuEngine cut shares of Star Bulk Carriers (NASDAQ:SBLK) from a sell rating to a strong sell rating in a report published on Tuesday.

SBLK has been the topic of a number of other research reports. JPMorgan Chase & Co. set a $20.00 price target on Star Bulk Carriers and gave the company a buy rating in a research note on Tuesday, September 11th. BidaskClub raised Star Bulk Carriers from a sell rating to a hold rating in a research note on Thursday, September 27th. Seaport Global Securities reissued a buy rating and issued a $20.00 price target on shares of Star Bulk Carriers in a research note on Sunday, August 12th. Stifel Nicolaus increased their price target on Star Bulk Carriers from $15.00 to $16.00 and gave the company a buy rating in a research note on Thursday, August 30th. Finally, Deutsche Bank set a $17.00 price objective on Star Bulk Carriers and gave the stock a buy rating in a research note on Friday, September 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $16.71.

Shares of SBLK stock traded down $0.05 during trading hours on Tuesday, reaching $10.53. The company had a trading volume of 602,011 shares, compared to its average volume of 625,584. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The company has a market cap of $700.28 million, a P/E ratio of -47.86 and a beta of 2.59. Star Bulk Carriers has a 1-year low of $8.62 and a 1-year high of $15.38.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $132.60 million for the quarter, compared to the consensus estimate of $122.37 million. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. Research analysts anticipate that Star Bulk Carriers will post 1.22 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in Star Bulk Carriers during the 3rd quarter worth $285,000. Paloma Partners Management Co raised its stake in Star Bulk Carriers by 27.8% during the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock worth $418,000 after buying an additional 7,074 shares during the period. Royce & Associates LP raised its stake in Star Bulk Carriers by 5.9% during the 2nd quarter. Royce & Associates LP now owns 258,300 shares of the shipping company’s stock worth $3,322,000 after buying an additional 14,300 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Star Bulk Carriers by 164.5% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 34,226 shares of the shipping company’s stock worth $440,000 after buying an additional 21,288 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Star Bulk Carriers by 78.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,098,899 shares of the shipping company’s stock worth $14,132,000 after buying an additional 482,319 shares during the period. 68.09% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Company Profile

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 October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.

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Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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