Analysts Anticipate Star Bulk Carriers Corp. (NASDAQ:SBLK) Will Announce Quarterly Sales of $336.20 Million

Equities analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Rating) to report sales of $336.20 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Star Bulk Carriers’ earnings, with estimates ranging from $327.68 million to $344.72 million. Star Bulk Carriers reported sales of $200.47 million in the same quarter last year, which would suggest a positive year over year growth rate of 67.7%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Star Bulk Carriers will report full-year sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.44 billion. For the next financial year, analysts forecast that the firm will report sales of $1.19 billion, with estimates ranging from $995.34 million to $1.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK – Get Rating) last announced its earnings results on Wednesday, February 16th. The shipping company reported $2.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.44. Star Bulk Carriers had a net margin of 47.67% and a return on equity of 37.79%. The business had revenue of $499.86 million for the quarter, compared to analyst estimates of $476.10 million. During the same quarter last year, the business earned $0.30 earnings per share.

Several research firms have recently weighed in on SBLK. Pareto Securities downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Wednesday, February 23rd. StockNews.com downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 20th. HC Wainwright boosted their price target on shares of Star Bulk Carriers from $35.00 to $40.00 in a research note on Friday, February 18th. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. Finally, Jefferies Financial Group upped their target price on shares of Star Bulk Carriers from $30.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $34.20.

Shares of NASDAQ SBLK opened at $26.99 on Tuesday. The company’s 50-day simple moving average is $29.05 and its 200-day simple moving average is $24.18. The company has a quick ratio of 2.09, a current ratio of 2.35 and a debt-to-equity ratio of 0.64. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 4.05 and a beta of 0.89. Star Bulk Carriers has a 52-week low of $16.56 and a 52-week high of $32.41.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Wednesday, March 2nd were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 1st. This represents a $8.00 dividend on an annualized basis and a yield of 29.64%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $1.25. Star Bulk Carriers’s dividend payout ratio (DPR) is 120.12%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Star Bulk Carriers by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 109,413 shares of the shipping company’s stock worth $2,630,000 after acquiring an additional 680 shares during the period. Spire Wealth Management lifted its holdings in shares of Star Bulk Carriers by 40.0% during the 1st quarter. Spire Wealth Management now owns 2,800 shares of the shipping company’s stock worth $83,000 after acquiring an additional 800 shares during the period. Raymond James & Associates lifted its holdings in shares of Star Bulk Carriers by 4.1% during the 4th quarter. Raymond James & Associates now owns 36,099 shares of the shipping company’s stock worth $818,000 after acquiring an additional 1,421 shares during the period. IronBridge Private Wealth LLC purchased a new position in shares of Star Bulk Carriers during the 4th quarter worth about $34,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Star Bulk Carriers during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

Star Bulk Carriers Company Profile (Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's 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 December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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