StockNews.com Initiates Coverage on Star Bulk Carriers (NASDAQ:SBLK)

Research analysts at StockNews.com assumed coverage on shares of Star Bulk Carriers (NASDAQ:SBLK – Get Rating) in a research note issued on Thursday. The brokerage sets a “hold” rating on the shipping company’s stock.

SBLK has been the subject of several other research reports. Stifel Nicolaus boosted their target price on shares of Star Bulk Carriers from $27.00 to $30.00 in a research note on Tuesday, April 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $26.00 price objective on shares of Star Bulk Carriers in a research note on Friday, February 17th.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $18.92 on Thursday. The firm’s 50-day simple moving average is $20.59 and its 200 day simple moving average is $20.77. Star Bulk Carriers has a 52 week low of $16.85 and a 52 week high of $33.99. The firm has a market capitalization of $1.95 billion, a PE ratio of 3.42 and a beta of 1.04. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.55.

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Star Bulk Carriers (NASDAQ:SBLK – Get Rating) last announced its earnings results on Thursday, February 16th. The shipping company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. Star Bulk Carriers had a net margin of 39.38% and a return on equity of 29.50%. The firm had revenue of $294.80 million during the quarter, compared to the consensus estimate of $274.04 million. On average, equity research analysts predict that Star Bulk Carriers will post 2.88 EPS for the current fiscal year.

Institutional Trading of Star Bulk Carriers

A number of institutional investors have recently modified their holdings of the company. Captrust Financial Advisors boosted its holdings in Star Bulk Carriers by 1.1% in the 4th quarter. Captrust Financial Advisors now owns 48,830 shares of the shipping company’s stock worth $939,000 after acquiring an additional 523 shares during the period. Raymond James & Associates boosted its holdings in Star Bulk Carriers by 1.3% in the 1st quarter. Raymond James & Associates now owns 46,848 shares of the shipping company’s stock worth $989,000 after acquiring an additional 614 shares during the period. Advisory Services Network LLC boosted its holdings in Star Bulk Carriers by 3.2% in the 1st quarter. Advisory Services Network LLC now owns 25,305 shares of the shipping company’s stock worth $751,000 after acquiring an additional 786 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in Star Bulk Carriers by 8.5% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 10,457 shares of the shipping company’s stock worth $183,000 after acquiring an additional 823 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Star Bulk Carriers by 5.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,452 shares of the shipping company’s stock valued at $368,000 after buying an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 46.29% of the company’s stock.

Star Bulk Carriers Company Profile

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Star Bulk Carriers Corp. provides seaborne transportation solutions in the dry bulk sector. The firm’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.

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