Morgan Stanley Upgrades Star Bulk Carriers Corp. to Overweight

Brokerage firm Morgan Stanley Upgrades its rating on Star Bulk Carriers Corp.(SBLK). The shares have been rated Overweight. Previously, the analysts had a Underweight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 28, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 21, 2017, Deutsche Bank said it Upgrades its rating on Star Bulk Carriers Corp.. The shares have been rated ‘Buy’ by the firm. On Feb 9, 2017, Pareto said it Downgrades its rating on Star Bulk Carriers Corp.. The shares have been rated ‘Hold’ by the firm.

Star Bulk Carriers Corp. (SBLK) made into the market gainers list on Fridays trading session with the shares advancing 2.23% or 0.22 points. Due to strong positive momentum, the stock ended at $10.07, which is also near the day’s high of $10.4. The stock began the session at $9.93 and the volume stood at 4,46,323 shares. The 52-week high of the shares is $11.6 and the 52 week low is $2.6105. The company has a current market capitalization of $635 M and it has 6,30,68,779 shares in outstanding.

Star Bulk Carriers Corp.(SBLK) last announced its earnings results on Feb 22, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $63.241M. Analysts had an estimated revenue of $58.110M. Earnings per share were $-0.29. Analysts had estimated an EPS of $-0.3.

Star Bulk Carriers Corp. is a shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company transports a range of major and minor bulk commodities including ores coal grains and fertilizers along worldwide shipping routes. As of April 6 2015 the Company’s operating fleet of 68 vessels had an aggregate capacity of approximately 7.1 million deadweight tons (dwt). The Company has an operating fleet of dry bulk carrier vessels. The Company’s fleet which emphasizes Capesize vessels primarily transports minerals from the Americas and Australia to East Asia particularly China but also Japan South Korea Taiwan Indonesia and Malaysia. Its Supramax vessels carry minerals grain products and steel between the Americas Europe Africa Australia and Indonesia and from these areas to China Japan South Korea Taiwan the Philippines and Malaysia. Its newbuilding vessels are being built at Japanese and Chinese shipyards.

Add Comment