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Earnings for August 31: SBLK

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Earnings for August 31: SBLK

Rupert Hadlow Aug 31, 2015

Star Bulk Carriers Tops Estimates

Earnings

Star Bulk Carriers (SBLK ) announced on Monday a better-than-expected EPS loss of 12 cents for the second quarter. This was above the initial forecasts of a -16 cents.

Revenue

Quarterly revenue reported by the company was above analysts’ estimates of $46.13 million. Coming in at $55.82 million, the rise was attributed to an increase in the total number of operating vessels.

Outlook

CEO Petros Pappas highlighted in the earnings release that the company is confident that Chinese and Brazilian iron ore restocking, and the stabilization of coal imports, would “assist in driving a sustained recovery.”

Analyst Recommendations

Currently Star Bulk Carriers is a consensus “Hold” according to 13 analysts, with a price target range of between $6.18-$7.64.

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