Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) was down 2.9% on Tuesday . The stock traded as low as $13.58 and last traded at $13.49. Approximately 190,619 shares were traded during trading, a decline of 90% from the average daily volume of 1,862,827 shares. The stock had previously closed at $13.89.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price target on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $22.05.
Check Out Our Latest Report on SBLK
Star Bulk Carriers Trading Up 8.1 %
The stock has a market cap of $1.68 billion, a PE ratio of 4.96 and a beta of 0.77. 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 fifty day moving average price of $15.47 and a 200 day moving average price of $16.95.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $230.91 million. Equities analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid 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 dividend yield of 2.53%. Star Bulk Carriers's dividend payout ratio is 12.54%.
Institutional Investors Weigh In On Star Bulk Carriers
A number of institutional investors and hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC increased its stake in 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 worth $18,548,000 after purchasing an additional 147,659 shares during the period. Amundi increased its stake in Star Bulk Carriers by 48.9% in the 4th quarter. Amundi now owns 1,174,566 shares of the shipping company's stock worth $17,454,000 after buying an additional 385,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Star Bulk Carriers by 12.4% during the 4th 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 buying an additional 89,600 shares in the last quarter. Grand Alliance Asset Management Ltd boosted its position in Star Bulk Carriers by 37.0% in the 4th quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock valued at $11,063,000 after buying an additional 200,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in Star Bulk Carriers by 22.8% in the 4th quarter. Geode Capital Management LLC now owns 561,713 shares of the shipping company's stock worth $8,398,000 after acquiring an additional 104,439 shares in the last quarter. 33.91% of the stock is owned by institutional investors.
Star Bulk Carriers Company Profile
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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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