Star Bulk Carriers Corp. (NASDAQ:SBLK) – Jefferies Financial Group lifted their Q3 2019 earnings per share estimates for shares of Star Bulk Carriers in a research report issued on Tuesday, May 28th. Jefferies Financial Group analyst R. Giveans now forecasts that the shipping company will earn ($0.31) per share for the quarter, up from their prior estimate of ($0.33). Jefferies Financial Group also issued estimates for Star Bulk Carriers’ FY2019 earnings at ($0.67) EPS.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Wednesday, May 22nd. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Star Bulk Carriers had a return on equity of 4.91% and a net margin of 6.28%. The business had revenue of $166.49 million for the quarter, compared to the consensus estimate of $154.10 million.

Several other brokerages have also recently issued reports on SBLK. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a report on Friday, February 22nd. BidaskClub upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Morgan Stanley cut shares of Star Bulk Carriers from an “overweight” rating to an “equal weight” rating in a report on Friday, February 15th. Finally, Deutsche Bank set a $15.00 target price on shares of Star Bulk Carriers and gave the stock a “buy” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Star Bulk Carriers currently has a consensus rating of “Buy” and an average price target of $16.67.

Shares of Star Bulk Carriers stock opened at $7.65 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 0.84. Star Bulk Carriers has a 1 year low of $6.16 and a 1 year high of $15.38. The stock has a market cap of $705.98 million, a price-to-earnings ratio of 6.89 and a beta of 1.75.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Star Bulk Carriers by 16.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 306,852 shares of the shipping company’s stock valued at $4,434,000 after buying an additional 42,693 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Star Bulk Carriers by 167.8% in the 3rd quarter. Morgan Stanley now owns 339,742 shares of the shipping company’s stock valued at $4,909,000 after buying an additional 212,861 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $68,000. Pendal Group Ltd bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $1,329,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $523,000. Institutional investors own 56.65% of the company’s stock.

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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

Featured Story: What is the formula for the cash asset ratio?

Earnings History and Estimates 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.