Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $12.39 and last traded at $12.66, with a volume of 4887741 shares changing hands. The stock had previously closed at $13.89.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on SBLK shares. Jefferies Financial Group reduced their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $22.05.
View Our Latest Analysis on Star Bulk Carriers
Star Bulk Carriers Stock Performance
The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The stock has a market capitalization of $1.68 billion, a PE ratio of 4.98 and a beta of 0.77. The firm's 50 day moving average is $15.47 and its two-hundred day moving average is $16.91.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The company had revenue of $308.92 million during the quarter, compared to analysts' expectations of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. As a group, research analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.
Star Bulk Carriers Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.
Hedge Funds Weigh In On Star Bulk Carriers
A number of institutional investors and hedge funds have recently modified their holdings of SBLK. Commonwealth Equity Services LLC grew its position in Star Bulk Carriers by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock worth $275,000 after purchasing an additional 826 shares during the last quarter. Blue Trust Inc. increased its position in Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock valued at $46,000 after acquiring an additional 1,038 shares during the period. Sigma Planning Corp raised its stake in Star Bulk Carriers by 4.9% during the 4th quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company's stock valued at $336,000 after acquiring an additional 1,060 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Star Bulk Carriers by 8.3% in the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock valued at $211,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Guidance Capital Inc. raised its position in Star Bulk Carriers by 6.1% in the fourth quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company's stock worth $372,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company's stock.
About Star Bulk Carriers
(
Get Free Report)
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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