Stifel Nicolaus Maintains Their Buy Rating on Star Bulk Carriers (SBLK)

By Carrie Williams

In a report released today, Benjamin Nolan from Stifel Nicolaus maintained a Buy rating on Star Bulk Carriers (NASDAQ: SBLK), with a price target of $16. The company’s shares closed yesterday at $13.08.

According to TipRanks.com, Nolan is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.8% and a 50.0% success rate. Nolan covers the Services sector, focusing on stocks such as Scorpio Tankers Inc, Golar LNG Partners, and Hoegh LNG Partners.

Currently, the analyst consensus on Star Bulk Carriers is a Moderate Buy with an average price target of $17.43.

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Based on Star Bulk Carriers’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $10.73 million. In comparison, last year the company had a GAAP net loss of $10.28 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.