Star Bulk Carriers (NASDAQ:SBLK - Free Report) had its price target lowered by Jefferies Financial Group from $22.00 to $21.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the shipping company's stock.
SBLK has been the topic of several other reports. DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $19.30 to $20.20 in a report on Thursday, November 21st. Stifel Nicolaus lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.05.
Get Our Latest Analysis on Star Bulk Carriers
Star Bulk Carriers Trading Down 4.1 %
Shares of SBLK stock traded down $0.65 on Wednesday, reaching $15.35. 3,593,145 shares of the stock were exchanged, compared to its average volume of 1,988,031. Star Bulk Carriers has a 1-year low of $14.30 and a 1-year high of $27.47. The stock has a market cap of $1.29 billion, a P/E ratio of 5.35 and a beta of 0.95. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $15.18 and a two-hundred day moving average of $18.48.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The firm had revenue of $308.92 million during the quarter, compared to analyst estimates of $230.91 million. On average, research analysts anticipate that Star Bulk Carriers will post 1.74 EPS for the current year.
Star Bulk Carriers Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.35%. Star Bulk Carriers's dividend payout ratio (DPR) is 83.62%.
Hedge Funds Weigh In On Star Bulk Carriers
Several large investors have recently added to or reduced their stakes in SBLK. Encompass Capital Advisors LLC raised its holdings in shares of Star Bulk Carriers by 13.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,240,650 shares of the shipping company's stock valued at $18,548,000 after buying an additional 147,659 shares during the last quarter. Amundi boosted its position in Star Bulk Carriers by 48.9% during the 4th quarter. Amundi now owns 1,174,566 shares of the shipping company's stock worth $17,454,000 after acquiring an additional 385,980 shares during the period. Philosophy Capital Management LLC bought a new position in shares of Star Bulk Carriers in the third quarter worth $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Star Bulk Carriers by 12.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,000 shares of the shipping company's stock valued at $12,154,000 after purchasing an additional 89,600 shares during the period. Finally, Grand Alliance Asset Management Ltd lifted its holdings in Star Bulk Carriers by 37.0% in the fourth quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock worth $11,063,000 after purchasing an additional 200,000 shares during the period. 33.91% of the stock is currently owned by institutional investors.
About Star Bulk Carriers
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Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.
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