Star Bulk Carriers Corp. (NASDAQ:SBLK) Expected to Announce Quarterly Sales of $311.95 Million

Last updated on Thursday, July 22, 2021 | 2021 MarketBeat

Equities research analysts expect Star Bulk Carriers Corp. (NASDAQ:SBLK) to report sales of $311.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Star Bulk Carriers' earnings. The lowest sales estimate is $277.06 million and the highest is $346.83 million. Star Bulk Carriers posted sales of $146.13 million during the same quarter last year, which suggests a positive year over year growth rate of 113.5%. The company is expected to issue its next quarterly earnings report on Wednesday, August 4th.

On average, analysts expect that Star Bulk Carriers will report full-year sales of $1.34 billion for the current year, with estimates ranging from $1.33 billion to $1.34 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.36 billion, with estimates ranging from $1.18 billion to $1.54 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that follow Star Bulk Carriers.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Tuesday, May 18th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.41 by ($0.05). Star Bulk Carriers had a net margin of 5.82% and a return on equity of 4.79%. The company had revenue of $200.47 million for the quarter, compared to analysts' expectations of $213.71 million.

A number of analysts recently weighed in on SBLK shares. Jefferies Financial Group upped their price objective on shares of Star Bulk Carriers from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, May 20th. SEB Equities initiated coverage on shares of Star Bulk Carriers in a research note on Wednesday, June 2nd. They issued a "buy" rating for the company. SEB Equity Research initiated coverage on shares of Star Bulk Carriers in a report on Wednesday, June 2nd. They issued a "buy" rating for the company. Zacks Investment Research upgraded shares of Star Bulk Carriers from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $40.00 target price (up from $18.00) on shares of Star Bulk Carriers in a report on Tuesday, May 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of "Buy" and a consensus price target of $23.40.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in Star Bulk Carriers in the 1st quarter worth approximately $47,000. Engineers Gate Manager LP acquired a new position in Star Bulk Carriers in the 4th quarter worth approximately $245,000. Tudor Investment Corp Et Al acquired a new position in Star Bulk Carriers in the 4th quarter worth approximately $405,000. Morgan Stanley increased its holdings in Star Bulk Carriers by 939.9% in the 4th quarter. Morgan Stanley now owns 717,976 shares of the shipping company's stock worth $6,340,000 after buying an additional 648,930 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Star Bulk Carriers by 20.3% in the 4th quarter. Squarepoint Ops LLC now owns 36,597 shares of the shipping company's stock worth $323,000 after buying an additional 6,177 shares during the period. Hedge funds and other institutional investors own 59.61% of the company's stock.

NASDAQ:SBLK opened at $18.51 on Thursday. Star Bulk Carriers has a 1-year low of $5.87 and a 1-year high of $25.24. The business has a 50-day simple moving average of $20.88. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 43.05 and a beta of 1.26. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.60.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 14th. Stockholders of record on Monday, May 31st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 27th. This represents a $1.20 annualized dividend and a dividend yield of 6.48%. This is an increase from Star Bulk Carriers's previous quarterly dividend of $0.05. Star Bulk Carriers's dividend payout ratio is 705.88%.

About Star Bulk Carriers

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 March 16, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

Recommended Story: What is Cost of Capital?

Get a free copy of the Zacks research report on Star Bulk Carriers (SBLK)

For more information about research offerings from Zacks Investment Research, visit

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Star Bulk Carriers right now?

Before you consider Star Bulk Carriers, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Bulk Carriers wasn't on the list.

While Star Bulk Carriers currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.