Star Bulk Carriers (NASDAQ:SBLK) Shares Down 0.2%

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s share price dropped 0.2% on Wednesday . The company traded as low as $22.55 and last traded at $22.68. Approximately 416,815 shares traded hands during trading, a decline of 74% from the average daily volume of 1,595,300 shares. The stock had previously closed at $22.72.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price for the company.

Star Bulk Carriers Trading Up 0.0 %

The stock’s 50 day moving average price is $21.61 and its 200-day moving average price is $23.60. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.91 billion, a PE ratio of 10.22 and a beta of 0.97.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $329.38 million. During the same quarter last year, the business earned $0.47 EPS. On average, sell-side analysts expect that Star Bulk Carriers Corp. will post 3.32 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 12.32%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 126.13%.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of Star Bulk Carriers by 1.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,144 shares of the shipping company’s stock worth $1,698,000 after buying an additional 990 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in shares of Star Bulk Carriers by 100.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after buying an additional 1,000 shares during the last quarter. Gilman Hill Asset Management LLC grew its position in shares of Star Bulk Carriers by 0.3% in the 1st quarter. Gilman Hill Asset Management LLC now owns 404,110 shares of the shipping company’s stock worth $9,646,000 after buying an additional 1,046 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Star Bulk Carriers by 8.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company’s stock worth $406,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers in the 2nd quarter worth approximately $32,000. Institutional investors own 33.91% of the company’s stock.

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.