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DNB Markets Begins Coverage on Star Bulk Carriers

DNB Markets assumed coverage on shares of Star Bulk Carriers (NASDAQ:SBLK) in a research report report published on Friday, January 4th, The Fly reports. The brokerage issued a buy rating on the shipping company’s stock.

Other analysts also recently issued research reports about the company. BidaskClub raised Star Bulk Carriers from a strong sell rating to a sell rating in a research report on Tuesday, November 27th. ValuEngine cut shares of Star Bulk Carriers from a sell rating to a strong sell rating in a research report on Tuesday, November 6th. Deutsche Bank set a $17.00 price target on shares of Star Bulk Carriers and gave the company a buy rating in a report on Friday, September 28th. Zacks Investment Research downgraded shares of Star Bulk Carriers from a hold rating to a strong sell rating in a report on Friday, November 30th. Finally, JPMorgan Chase & Co. set a $20.00 price target on shares of Star Bulk Carriers and gave the company a buy rating in a report on Tuesday, September 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $17.00.

The stock has a market capitalization of $707.02 million, a price-to-earnings ratio of -45.91 and a beta of 2.03. Star Bulk Carriers has a fifty-two week low of $7.99 and a fifty-two week high of $15.38. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.79.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Tuesday, November 20th. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The company had revenue of $188.47 million during the quarter, compared to analyst estimates of $194.27 million. Star Bulk Carriers had a return on equity of 6.91% and a net margin of 12.83%. Equities research analysts expect that Star Bulk Carriers will post 0.94 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in shares of Star Bulk Carriers by 78.2% in the second quarter. Renaissance Technologies LLC now owns 1,098,899 shares of the shipping company’s stock worth $14,132,000 after purchasing an additional 482,319 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of Star Bulk Carriers in the second quarter worth $3,215,000. Dynamic Technology Lab Private Ltd increased its stake in shares of Star Bulk Carriers by 164.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 34,226 shares of the shipping company’s stock worth $440,000 after purchasing an additional 21,288 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Star Bulk Carriers by 78.1% in the second quarter. Cubist Systematic Strategies LLC now owns 27,528 shares of the shipping company’s stock worth $354,000 after purchasing an additional 12,069 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Star Bulk Carriers by 183.4% during the second quarter. Macquarie Group Ltd. now owns 41,100 shares of the shipping company’s stock worth $529,000 after acquiring an additional 26,600 shares during the last quarter. Hedge funds and other institutional investors own 77.91% of the company’s stock.
Source: MarketBeat

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