Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) traded up 6.3% during mid-day trading on Thursday . The company traded as high as $15.90 and last traded at $15.91. 2,048,757 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 1,950,783 shares. The stock had previously closed at $14.96.
Wall Street Analyst Weigh In
SBLK has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price target on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday. DNB Markets raised Star Bulk Carriers from a "sell" rating to a "hold" rating and increased their price target for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Finally, StockNews.com lowered 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 issued a buy rating to the stock. According to data from MarketBeat, Star Bulk Carriers has a consensus rating of "Hold" and an average price target of $22.05.
Read Our Latest Report on SBLK
Star Bulk Carriers Trading Down 4.1 %
The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 5.35 and a beta of 0.95. 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 business has a fifty day moving average price of $15.18 and a 200 day moving average price of $18.48.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts' consensus estimates 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%. As a group, equities analysts forecast that Star Bulk Carriers Corp. will post 1.93 earnings per share for the current year.
Star Bulk Carriers Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.35%. Star Bulk Carriers's payout ratio is 83.62%.
Institutional Trading of Star Bulk Carriers
Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Star Bulk Carriers by 229.6% during the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company's stock worth $9,575,000 after buying an additional 281,552 shares during the last quarter. Geode Capital Management LLC increased its holdings in Star Bulk Carriers by 359.3% in the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock valued at $10,833,000 after purchasing an additional 357,720 shares in the last quarter. Barclays PLC increased its holdings in Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after purchasing an additional 449,113 shares in the last quarter. Autumn Glory Partners LLC acquired a new stake in Star Bulk Carriers in the 3rd quarter valued at $649,000. Finally, Blue Trust Inc. increased its holdings in Star Bulk Carriers by 1,458.8% in the 4th quarter. Blue Trust Inc. now owns 31,565 shares of the shipping company's stock valued at $472,000 after purchasing an additional 29,540 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.
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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