Star Bulk Carriers (SBLK) Receives a Buy from Drewry Financial

By Ryan Adsit

Drewry Financial analyst Kanikka Sachdeva maintained a Buy rating on Star Bulk Carriers (SBLKResearch Report) yesterday and set a price target of $11. The company’s shares closed yesterday at $8.08.

Star Bulk Carriers has an analyst consensus of Moderate Buy, with a price target consensus of $13.

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Based on Star Bulk Carriers’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.34 million. In comparison, last year the company had a net profit of $9.9 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.