Star Bulk Carriers (NASDAQ:SBLK) Price Target Cut to $21.00 by Analysts at Jefferies Financial Group

Star Bulk Carriers (NASDAQ:SBLK) had its price target cut by analysts at Jefferies Financial Group from $22.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 31.25% from the stock’s previous close.

SBLK has been the subject of several other reports. Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their target price for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their target price for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Finally, StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers currently has a consensus rating of “Hold” and an average target price of $22.05.

Star Bulk Carriers Stock Up 7.0 %

NASDAQ:SBLK opened at $16.00 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. Star Bulk Carriers has a twelve month low of $14.30 and a twelve month high of $27.47. The stock’s 50 day moving average price is $15.17 and its two-hundred day moving average price is $18.49. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 5.57 and a beta of 0.95.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results 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 12.85% and a net margin of 24.08%. The business had revenue of $308.92 million for the quarter, compared to the consensus estimate of $230.91 million. Equities research analysts expect that Star Bulk Carriers will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of Star Bulk Carriers

Several institutional investors have recently added to or reduced their stakes in SBLK. Philosophy Capital Management LLC bought a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at $17,137,000. Barclays PLC lifted its position in shares of Star Bulk Carriers by 7,313.4% during the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock valued at $10,784,000 after acquiring an additional 449,113 shares during the period. Praetorian PR LLC bought a new stake in shares of Star Bulk Carriers during the 4th quarter valued at $6,267,000. Finally, Stifel Financial Corp lifted its position in shares of Star Bulk Carriers by 152.2% during the 3rd quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company’s stock valued at $16,229,000 after acquiring an additional 413,423 shares during the period. 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.