Star Bulk Carriers (SBLK) reported an earnings miss for its 3rd quarter, ending 9/30/2022. Earnings per share got here in at $1.34, versus the anticipated $1.41.
The reported income of $364.14 million represents a lower of -12.75% in comparison with the earlier quarter, and a lower of -12.40% in comparison with the identical interval final yr.
For the 4th quarter, analysts challenge earnings of $1.24 per share.
Usually, earnings bulletins have an effect on a inventory’s value. See a historical past of earnings-related value adjustments for SBLK inventory.
What’s Subsequent for Star Bulk Carriers, Submit-Earnings?
In keeping with TipRanks, the common analyst consensus on SBLK inventory is a Robust Purchase. This consensus is predicated on 4 analyst rankings made previously 3 months. Star Bulk Carriers’ common value goal of $29.50 implies upside potential of fifty.51% from present ranges.
See our Earnings Calendar for a full checklist of this week’s earnings releases.
Backside Line
An earnings miss can signify adverse motion forward for a inventory’s value. At present, SBLK value is $19.60, indicating a 5-day drop of -6.67%.
About Star Bulk Carriers
Star Bulk Carriers Corp. is a holding firm, which engages within the provision of seaborne transportation options within the dry bulk sector. It ships iron ore, coal and grain, bauxite, fertilizers, and metal merchandise. The corporate was based by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece..
Study extra about SBLK financials right here
