Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $14.19 and last traded at $14.26, with a volume of 1759269 shares changing hands. The stock had previously closed at $15.65.
Wall Street Analyst Weigh In
SBLK has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Star Bulk Carriers has an average rating of "Hold" and a consensus price target of $22.05.
View Our Latest Stock Report on SBLK
Star Bulk Carriers Price Performance
The firm has a market capitalization of $1.49 billion, a P/E ratio of 4.41 and a beta of 0.77. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $15.61 and a 200-day moving average price of $17.16.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.08). The firm had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. On average, analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's payout ratio is 12.54%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of SBLK. Encompass Capital Advisors LLC grew its position in shares of Star Bulk Carriers by 13.5% in 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 purchasing an additional 147,659 shares during the period. Amundi boosted its holdings in Star Bulk Carriers by 48.9% during the 4th quarter. Amundi now owns 1,174,566 shares of the shipping company's stock valued at $17,454,000 after acquiring an additional 385,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $12,154,000 after acquiring an additional 89,600 shares during the period. Grand Alliance Asset Management Ltd lifted its stake 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 acquiring an additional 200,000 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Star Bulk Carriers by 152.2% during the 3rd quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company's stock worth $16,229,000 after acquiring an additional 413,423 shares in the last quarter. 33.91% of the stock is currently owned by hedge funds and other institutional investors.
Star Bulk Carriers Company Profile
(
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.
Further Reading
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