Jefferies Raises Price Target on Star Bulk Carriers (SBLK) Following 2Q EPS Beat
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Jefferies reiterated a Buy rating on Star Bulk Carriers (NASDAQ: SBLK), and raised the price target to $6.00 (from $5.00), following the company's 2Q earnings report. SBLK reported adjusted EPS loss of ($0.69), which was ahead of the Street's estimate of ($0.74).
Analyst Douglas Mavrinac commented, "Yesterday after the market close, Star Bulk reported an adjusted 2Q16 EPS loss of $0.69, which was better than both Street consensus of an EPS loss of $0.74 and our estimate of an EPS loss of $0.96 primarily due to better than expected charter rates and lower than expected vessel opex. Importantly, Star Bulk also announced a deft deferral and equity raise, which defers the Company's next amortization payment until 2H18."
Shares of Star Bulk Carriers closed at $4.39 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Broadcom (AVGO) PT Raised to $215 at Oppenheimer
- Jefferies Adjusts Estimates on Ciena (CIEN) - PT to $29
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!