Trade Report: The Star Bulk Carriers Corp. (SBLK) Upgraded to Buy at Pareto Securities

The Star Bulk Carriers Corp. (SBLK) Upgraded to Buy at Pareto Securities

Pareto Securities upgraded shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) from a hold rating to a buy rating in a research report sent to investors on Monday morning, The Fly reports.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. from a hold rating to a buy rating and set a $5.50 target price on the stock in a report on Thursday, October 6th. Deutsche Bank AG restated a hold rating on shares of Star Bulk Carriers Corp. in a report on Wednesday, September 28th. Morgan Stanley restated a sell rating and set a $3.00 target price on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. Jefferies Group restated a buy rating and set a $6.00 target price (up previously from $5.00) on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. Finally, Seaport Global Securities restated a neutral rating and set a $4.00 target price on shares of Star Bulk Carriers Corp. in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $4.33.

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 4.71 on Monday. The firm’s market cap is $207.03 million. The stock’s 50 day moving average is $4.65 and its 200 day moving average is $4.14. Star Bulk Carriers Corp. has a 52 week low of $1.55 and a 52 week high of $11.70.

Star Bulk Carriers Corp. (NASDAQ:SBLK) last posted its earnings results on Wednesday, September 14th. The company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The business had revenue of $52.65 million for the quarter. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. On average, equities research analysts predict that Star Bulk Carriers Corp. will post ($2.56) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Geode Capital Management LLC increased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,746 shares of the company’s stock after buying an additional 53,743 shares during the period. Geode Capital Management LLC owned approximately 0.06% of Star Bulk Carriers Corp. worth $102,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 75.53% of the company’s stock.

Star Bulk Carriers Corp. Company Profile

Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Company will have a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 dwt and 209,537 deadweight tonnage (dwt).

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