Shares of
Star Bulk Carriers (NASDAQ:SBLK) stock tumbled 10% through 11:20 a.m. EDT Thursday after the ocean-going freighter of dry bulk goods reported a titanic increase in earnings for its fiscal first quarter of 2021.
Heading into Q1, analysts had forecast that Star Bulk would earn $0.43 per share on $168.9 million in sales for the quarter. Star Bulk beat that revenue estimate, with sales of $200.5 million, but it missed badly on earnings, bringing in $0.36 per share in profit.
Image source: Getty Images.
So what
And yet, $0.36 per share is not an objectively bad number. Given that a year ago, Star Bulk earned $0.03 per share on $160.9 million in revenue, $0.36 per share works out to a 12-fold increase in earnings on just a 25% increase in revenue.
U S East Coast sees arrival of mega container ship from Asia
newjerseytelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newjerseytelegraph.com Daily Mail and Mail on Sunday newspapers.
Castor Maritime Stock Keeps Day-Traders Busy, but It’s Too Risky Right Here InvestorPlace 5 days ago Tezcan Gecgil
Castor Maritime (NASDAQ © Provided by InvestorPlace A magnifying glass zooms in on the website for Castor Maritime (CTRM).
CTRM stock started 2021 at 19 cents and on Feb. 11 hit a multi-year high of $1.95. Now it is hovering around $0.45. Year-to-date (YTD) the shares have returned about 140%.
Limassol, Cyprus-based Castor Maritime, which was founded in 2017, is a diversified global shipping company. In 2020 it doubled the fleet size from three vessels to six. By the end of the year, it will have fourteen.
Popular Searches
The disruptive effect of the novel coronavirus caused a considerable decline in sea freight in the first half of 2020. Around 310 container ships remained idle in February 2020 alone according to Statista.
Investors snap up Maybulk shares, trading volume swells to record high
Shares in Malaysian Bulk Carriers Bhd (Maybulk) rose to a three-year high in active trade, tracking rising dry bulk freight rates currently at their 11-year high.
Maybulk shares rose as much as 11 sen or 15.17% to 83.5 sen today, with trading volume surging to a record 135.7 million almost 14 times its two-month average of 9.78 million shares.
On market close, the stock pared a little of its gains to close at 82 sen, still up 9.5 sen or 13.1%, valuing the dry bulk carrier at RM820 million. The counter has gained over 50% since the start of the year.
Author Bio
I like things that go boom. Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered and continue to cover everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.
What happened
Shares of dry bulk shipping stocks are on a tear this Monday morning. In 11:25 a.m. trading,
vimarsana © 2020. All Rights Reserved.