Revenue Update on Star Bulk Carriers Corp.(NASDAQ:SBLK)

Star Bulk Carriers Corp.(NASDAQ:SBLK) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during After-hours on Jun 29, 2016. Company reported revenue of $46.30M. Analysts estimated a revenue of $32.49M. Earnings per share were $-0.87. Analysts had estimated an EPS of $-0.21.

In a different note, On Apr 21, 2016, ABN Amro said it Upgrades its rating on Star Bulk Carriers Corp.. The shares have been rated ‘Buy’ by the firm.

Star Bulk Carriers Corp. (SBLK) shares turned negative on Fridays trading session with the shares closing down -0.03 points or -1.01% at a volume of 3,68,270. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.16. The peak price level was also seen at $3.16 while the days lowest was $2.92. Finally the shares closed at $2.93. The 52-week high of the shares is $17.1 while the 52-week low is $1.5675. According to the latest information available, the market cap of the company is $128 M.

Star Bulk Carriers Corp. is a shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company transports a range of major and minor bulk commodities including ores coal grains and fertilizers along worldwide shipping routes. As of April 6 2015 the Company’s operating fleet of 68 vessels had an aggregate capacity of approximately 7.1 million deadweight tons (dwt). The Company has an operating fleet of dry bulk carrier vessels. The Company’s fleet which emphasizes Capesize vessels primarily transports minerals from the Americas and Australia to East Asia particularly China but also Japan South Korea Taiwan Indonesia and Malaysia. Its Supramax vessels carry minerals grain products and steel between the Americas Europe Africa Australia and Indonesia and from these areas to China Japan South Korea Taiwan the Philippines and Malaysia. Its newbuilding vessels are being built at Japanese and Chinese shipyards.

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