Star Bulk Carriers (NASDAQ:SBLK) Shares Gap Up - Should You Buy?

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $16.68, but opened at $17.23. Star Bulk Carriers shares last traded at $17.03, with a volume of 397,360 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Star Bulk Carriers has a consensus rating of "Hold" and an average target price of $22.05.

Star Bulk Carriers Stock Performance

The company has a market capitalization of $1.39 billion, a PE ratio of 5.78 and a beta of 1.03. The business's 50-day moving average is $15.60 and its 200-day moving average is $17.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly 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). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $308.92 million for the quarter, compared to analysts' expectations of $230.91 million. On average, research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

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Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.17%. Star Bulk Carriers's dividend payout ratio (DPR) is currently 12.54%.

Institutional Trading of Star Bulk Carriers

A number of institutional investors and hedge funds have recently bought and sold shares of SBLK. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Star Bulk Carriers during the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust bought a new stake in Star Bulk Carriers during the 4th quarter valued at about $30,000. Capital Analysts LLC increased its stake in Star Bulk Carriers by 215.9% during the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after purchasing an additional 1,561 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after purchasing an additional 1,676 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Star Bulk Carriers during the 4th quarter valued at about $45,000. 33.91% of the stock is currently owned by institutional investors.

About Star Bulk Carriers

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.