Star Bulk Carriers (SBLK) reported an earnings miss for its 3rd quarter, ending 9/30/2022. Earnings per share came in at $1.34, versus the expected $1.41.
The reported revenue of $364.14 million represents a decrease of -12.75% compared to the previous quarter, and a decrease of -12.40% compared to the same period last year.
For the 4th quarter, analysts project earnings of $1.24 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for SBLK stock.
What’s Next for Star Bulk Carriers, Post-Earnings?
According to TipRanks, the average analyst consensus on SBLK stock is a Strong Buy. This consensus is based on 4 analyst ratings made in the past 3 months. Star Bulk Carriers’ average price target of $29.50 implies upside potential of 50.51% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings miss can signify negative movement ahead for a stock’s price. Currently, SBLK price is $19.60, indicating a 5-day drop of -6.67%.
About Star Bulk Carriers
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..
Learn more about SBLK financials here
