Published: Wed, May 16, 2018
Global News | By Blake Casey

Star Bulk Carriers (SBLK) Rating Increased to Sell at ValuEngine

Star Bulk Carriers (SBLK) Rating Increased to Sell at ValuEngine

Continuing its consolidation of the sector Star Bulk Carriers is buying Songa Bulk in a cash and share deal worth $327.95m. The volume of 0.3 Million shares climbed down over an trading activity of 304.32 Million shares. About 660,974 shares traded or 116.35% up from the average. On Wednesday, February 28 the stock has "Buy" rating by Seaport Global. Since May 12, 2017 SBLK has risen 16.11% and is uptrending. Tokio Marine Asset Management Co.

As a result of the contemplated transactions, shareholders of Songa are expected to own approximately 14.9% of the outstanding common shares of the company, and the pre-existing top 5 shareholders of the company would own approximately 38.7%, 4.4%, 3.9%, 1.0% and 1.0% of the outstanding common shares of the company respectively. The Florida-based Daniel Devine & Co has invested 0.64% in the stock. The corporation has a market cap of US$850.19 Million. It accepts savings accounts, NOW accounts, demand deposits, time deposits, and money market accounts, as well as cash management accounts.

In addition CSSC (Hong Kong) Shipping Company Ltd has agreed to provide $104.4m to finance the remaining $103.8m capital expenditure of the three vessels via a ten-year capital lease. It has outperformed by 1.48% the S&P500.

Star Bulk Carriers (NASDAQ:SBLK) was upgraded by investment analysts at BidaskClub from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, May 5th. Therefore 89% are positive. 9 are the (NASDAQ:SBLK)'s ratings reports on May 14, 2018 according to StockzIntelligence Inc. They now have a "buy" rating on the stock. $4.40M worth of stock was sold by Lalor Angela S on Friday, February 2. On Monday, February 12 the stock has "Overweight" rating by Morgan Stanley. The firm has "Hold" rating by RBC Capital Markets given on Monday, July 10. (NASDAQ:SBLK) earned "Hold" rating by Stifel Nicolaus on Thursday, March 1. On Tuesday, April 17 the firm has "Overweight" rating given by Morgan Stanley. The stock presently has a consensus rating of "Buy" and a consensus target price of $14.92. (NASDAQ:SBLK) earned "Hold" rating by Stifel Nicolaus. (NASDAQ:SBLK)'s earnings per share has been growing at a 77.9 percent rate over the past 5 year when average revenue increase was noted as 31 percent. Star Bulk Carriers has a fifty-two week low of $13.20 and a fifty-two week high of $13.51. Jump Trading LLC bought a new stake in Star Bulk Carriers during the first quarter worth about $128,000.

SC rejects Karnataka's plea to stall finalisation of draft Cauvery scheme
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Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide.The firm is valued at $855.25 million. 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.

Currently, the stock carries a price to earnings ratio of 25.63, a price to book ratio of 7.94, and a price to sales ratio of 8.8. As of February 27, 2018, the firm had a fleet of 72 vessels with an aggregate capacity of approximately 7.8 million deadweight ton; and had contracts for 2 additional newbuilding vessels with an aggregate capacity of approximately 416,000 dwt.

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