Star Bulk Carriers (SBLK) Cut to Sell at BidaskClub

BidaskClub lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other brokerages have also recently issued reports on SBLK. Stifel Nicolaus increased their price objective on Star Bulk Carriers from $15.00 to $16.00 and gave the stock a buy rating in a report on Thursday, August 30th. Zacks Investment Research cut Star Bulk Carriers from a buy rating to a hold rating in a report on Wednesday, July 18th. ValuEngine cut Star Bulk Carriers from a hold rating to a sell rating in a report on Monday, August 13th. Seaport Global Securities reissued a buy rating and set a $20.00 price objective on shares of Star Bulk Carriers in a report on Sunday, August 12th. Finally, JPMorgan Chase & Co. set a $20.00 price objective on Star Bulk Carriers and gave the stock a buy rating in a report on Tuesday, September 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $16.71.

Shares of SBLK opened at $11.53 on Friday. The stock has a market cap of $785.96 million, a P/E ratio of -52.41 and a beta of 2.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59. Star Bulk Carriers has a 52-week low of $8.62 and a 52-week high of $15.38.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $132.60 million for the quarter, compared to analysts’ expectations of $122.37 million. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. As a group, research analysts expect that Star Bulk Carriers will post 1.28 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC raised its holdings in shares of Star Bulk Carriers by 79.0% in the 1st quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 4,132 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at about $142,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers in the 1st quarter valued at about $180,000. FNY Investment Advisers LLC purchased a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $285,000. Finally, Paloma Partners Management Co raised its holdings in shares of Star Bulk Carriers by 27.8% in the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after acquiring an additional 7,074 shares in the last quarter. 68.00% of the stock is currently owned by hedge funds and other institutional investors.

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 August 29, 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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