Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) traded down 3.9% on Tuesday . The company traded as low as $13.76 and last traded at $13.66. 99,061 shares traded hands during trading, a decline of 95% from the average session volume of 1,859,794 shares. The stock had previously closed at $14.21.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on SBLK shares. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Jefferies Financial Group dropped their price target on shares of 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. Three equities research 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, the stock presently has a consensus rating of "Hold" and an average price target of $22.05.
Check Out Our Latest Analysis on SBLK
Star Bulk Carriers Stock Performance
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's fifty day moving average price is $15.29 and its 200 day moving average price is $16.66. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 4.80 and a beta of 0.77.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. Analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The business 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. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.61%. Star Bulk Carriers's dividend payout ratio (DPR) is 12.54%.
Hedge Funds Weigh In On Star Bulk Carriers
A number of institutional investors and hedge funds have recently made changes to their positions in SBLK. Commonwealth Equity Services LLC lifted its stake in Star Bulk Carriers by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock worth $275,000 after acquiring an additional 826 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Star Bulk Carriers by 51.3% during the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Star Bulk Carriers by 4.9% during the 4th quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company's stock worth $336,000 after purchasing an additional 1,060 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in 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 buying an additional 1,083 shares during the last quarter. Finally, Guidance Capital Inc. raised its stake 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 valued at $372,000 after buying an additional 1,434 shares in the last quarter. 33.91% of the stock is owned by institutional investors and hedge funds.
Star Bulk Carriers Company Profile
(
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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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