Zacks Investment Research downgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a report.
According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “
Several other brokerages have also issued reports on SBLK. Jefferies Group reiterated a buy rating and set a $15.00 price target on shares of Star Bulk Carriers in a report on Thursday, October 19th. TheStreet lowered Star Bulk Carriers from a c rating to a d+ rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus set a $11.00 target price on Star Bulk Carriers and gave the stock a hold rating in a report on Sunday, October 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $13.00.
The stock has a market capitalization of $737.12, a PE ratio of -6.14 and a beta of 2.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.64 and a current ratio of 2.64. Star Bulk Carriers has a 1-year low of $7.57 and a 1-year high of $13.40.
Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Sunday, November 19th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). Star Bulk Carriers had a negative return on equity of 4.04% and a negative net margin of 23.09%. sell-side analysts anticipate that Star Bulk Carriers will post -0.36 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in Star Bulk Carriers in the 4th quarter worth approximately $272,000. Westpac Banking Corp lifted its holdings in Star Bulk Carriers by 43.6% in the 4th quarter. Westpac Banking Corp now owns 95,100 shares of the shipping company’s stock worth $1,071,000 after purchasing an additional 28,880 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Star Bulk Carriers by 10.8% in the 3rd quarter. California Public Employees Retirement System now owns 281,888 shares of the shipping company’s stock worth $2,737,000 after purchasing an additional 27,488 shares during the last quarter. Oaktree Capital Management LP lifted its holdings in Star Bulk Carriers by 0.4% in the 3rd quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock worth $316,347,000 after purchasing an additional 140,000 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in Star Bulk Carriers by 6.9% in the 3rd quarter. Royce & Associates LP now owns 217,000 shares of the shipping company’s stock worth $2,107,000 after purchasing an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 70.49% of the company’s stock.
