Star Bulk Carriers Receives a Buy from Jefferies

By Ryan Adsit

Jefferies analyst Douglas Mavrinac reiterated a Buy rating on Star Bulk Carriers (NASDAQ: SBLK) today and set a price target of $15. The company’s shares closed yesterday at $10.31.

According to TipRanks.com, Mavrinac is a 5-star analyst with an average return of 11.7% and a 59.6% success rate. Mavrinac covers the Services sector, focusing on stocks such as Navios Maritime Partners Lp, Ship Finance International, and Golden Ocean Group Limited.

Star Bulk Carriers has an analyst consensus of Moderate Buy, with a price target consensus of $15.

Based on Star Bulk Carriers’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $78.61 million and GAAP net loss of $10.28 million. In comparison, last year the company earned revenue of $59.91 million and had a GAAP net loss of $39.41 million.

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Star Bulk Carriers Corp. is a holding company, which engages in the marine transportation of dry bulk vessels. It ships iron ore, coal, grain, bauxite, fertilizers, and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.