Star Bulk Carriers Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of Star Bulk Carriers from a hold rating to a buy rating in a report published on Friday, August 23rd, BidAskClub reports.
Several other research analysts also recently issued reports on SBLK. TheStreet downgraded shares of Star Bulk Carriers from a c- rating to a d rating in a report on Friday, August 9th. Zacks Investment Research downgraded Star Bulk Carriers from a strong-buy rating to a hold rating in a report on Saturday, August 17th. Deutsche Bank set a $15.00 target price on Star Bulk Carriers and gave the stock a buy rating in a report on Friday, May 24th. Finally, ValuEngine upgraded Star Bulk Carriers from a sell rating to a hold rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $16.00.
The firm has a market capitalization of $1.01 billion, a PE ratio of 9.94 and a beta of 1.67. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 0.84. Star Bulk Carriers has a twelve month low of $6.16 and a twelve month high of $15.38. The stock’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $8.59.
Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, August 7th. The shipping company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.09. The company had revenue of $157.79 million for the quarter, compared to the consensus estimate of $137.11 million. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.09%. On average, analysts anticipate that Star Bulk Carriers will post 0.18 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in SBLK. Advisor Group Inc. lifted its holdings in shares of Star Bulk Carriers by 839.5% during the second quarter. Advisor Group Inc. now owns 3,570 shares of the shipping company’s stock worth $34,000 after purchasing an additional 3,190 shares during the period. Marshall Wace North America L.P. bought a new position in Star Bulk Carriers during the 1st quarter worth $47,000. Wells Fargo & Company MN bought a new position in Star Bulk Carriers during the 2nd quarter worth $102,000. Quantitative Systematic Strategies LLC acquired a new position in Star Bulk Carriers during the 2nd quarter worth about $109,000. Finally, Cetera Advisor Networks LLC acquired a new position in Star Bulk Carriers during the 2nd quarter worth about $120,000. 56.72% of the stock is owned by hedge funds and other institutional investors.