Star Bulk Carriers (SBLK) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Star Bulk Carriers (NASDAQ:SBLK) released its quarterly earnings data on Tuesday. The shipping company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03), Morningstar.com reports. The company had revenue of $188.47 million during the quarter, compared to analysts’ expectations of $194.27 million. Star Bulk Carriers had a net margin of 8.39% and a return on equity of 3.73%.
Shares of Star Bulk Carriers stock traded up $0.38 on Wednesday, hitting $8.54. The stock had a trading volume of 17,931 shares, compared to its average volume of 636,237. The stock has a market capitalization of $589.64 million, a price-to-earnings ratio of -38.82 and a beta of 2.59. Star Bulk Carriers has a one year low of $7.99 and a one year high of $15.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59.
Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of Star Bulk Carriers by 167.8% during the 3rd quarter. Morgan Stanley now owns 339,742 shares of the shipping company’s stock valued at $4,909,000 after purchasing an additional 212,861 shares during the period. York Capital Management Global Advisors LLC purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter worth $79,189,000. Jefferies Group LLC purchased a new stake in Star Bulk Carriers in the third quarter valued at about $220,000. Renaissance Technologies LLC raised its stake in shares of Star Bulk Carriers by 40.1% in the third quarter. Renaissance Technologies LLC now owns 1,539,336 shares of the shipping company’s stock worth $22,243,000 after purchasing an additional 440,437 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Star Bulk Carriers by 16.2% during the third quarter. JPMorgan Chase & Co. now owns 306,852 shares of the shipping company’s stock worth $4,434,000 after acquiring an additional 42,693 shares during the period. 70.45% of the stock is owned by hedge funds and other institutional investors.
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About Star Bulk Carriers
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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