Is Star Bulk Carriers a Buy?
Star Bulk Carriers (NASDAQ: SBLK) shares are up 30% since management reported first-quarter 2019 earnings in late May. With the company expanding its fleet and working quickly to install emissions equipment, is this run a sign that the future is starting to brighten and there's more upside to come? Or is Star Bulk's swift advance fully pricing in the good news management talked about on its first-quarter conference call?
In late May, Star Bulk Carriers CEO Petros Pappas stated during the first-quarter conference call that "we remain optimistic for the end of the year and expect that the combination of lower supply and recovering demand is likely [to] surprise to the upside." Further, in the company's earnings release, Pappas noted that "we expect 2020 to be a more profitable year." Since that point, the stock has rallied strongly.
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