In a report released yesterday, Joakim Hannisdahl from Cleaves Securities maintained a Buy rating on Star Bulk Carriers (SBLK), with a price target of $10.00. The company’s shares closed last Monday at $5.58, close to its 52-week low of $4.77.
According to TipRanks.com, Hannisdahl is a 3-star analyst with an average return of 1.1% and a 54.1% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.
Currently, the analyst consensus on Star Bulk Carriers is a Strong Buy with an average price target of $10.10, implying an 86.7% upside from current levels. In a report issued on April 14, Pareto also upgraded the stock to Buy with a $9.00 price target.
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Based on Star Bulk Carriers’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $249 million and net profit of $23.5 million. In comparison, last year the company earned revenue of $209 million and had a net profit of $11.72 million.
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Star Bulk Carriers Corp. is a holding company, which engages in the provision of seaborne transportation solutions in the dry bulk sector. It ships iron ore, coal and grain, bauxite, fertilizers, and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.
