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.
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