Star Bulk Carriers (NASDAQ:SBLK) Shares Down 0.8%

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) were down 0.8% during mid-day trading on Tuesday . The company traded as low as $23.05 and last traded at $23.51. Approximately 721,329 shares traded hands during trading, a decline of 55% from the average daily volume of 1,601,137 shares. The stock had previously closed at $23.69.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock.

Star Bulk Carriers Stock Down 0.5 %

The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.98 billion, a P/E ratio of 10.60 and a beta of 0.97. The firm’s 50 day moving average price is $21.57 and its two-hundred day moving average price is $23.58.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. The business had revenue of $352.88 million during the quarter, compared to the consensus estimate of $329.38 million. During the same period last year, the business posted $0.47 EPS. Equities research analysts forecast that Star Bulk Carriers Corp. will post 3.32 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $2.80 annualized dividend and a yield of 11.87%. Star Bulk Carriers’s payout ratio is presently 126.13%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Star Bulk Carriers by 39.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,214 shares of the shipping company’s stock worth $6,064,000 after purchasing an additional 80,406 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Star Bulk Carriers by 17.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 70,154 shares of the shipping company’s stock valued at $1,491,000 after acquiring an additional 10,407 shares during the last quarter. Seven Eight Capital LP grew its position in shares of Star Bulk Carriers by 472.3% in the 4th quarter. Seven Eight Capital LP now owns 82,364 shares of the shipping company’s stock valued at $1,751,000 after acquiring an additional 67,973 shares during the period. Capital Fund Management S.A. increased its stake in shares of Star Bulk Carriers by 1.7% during the 4th quarter. Capital Fund Management S.A. now owns 257,665 shares of the shipping company’s stock worth $5,478,000 after purchasing an additional 4,224 shares during the last quarter. Finally, Marketfield Asset Management LLC raised its holdings in shares of Star Bulk Carriers by 42.9% in the 4th quarter. Marketfield Asset Management LLC now owns 172,145 shares of the shipping company’s stock valued at $3,660,000 after purchasing an additional 51,639 shares during the period. 33.91% of the stock is currently owned by institutional investors.

Star Bulk Carriers Company Profile

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.