DNB Markets Lowers Star Bulk Carriers (NASDAQ:SBLK) to Sell

DNB Markets lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a hold rating to a sell rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Separately, Deutsche Bank Aktiengesellschaft began coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a buy rating and a $26.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $29.33.

Star Bulk Carriers Stock Performance

Shares of NASDAQ SBLK opened at $21.05 on Friday. Star Bulk Carriers has a 12 month low of $17.91 and a 12 month high of $27.47. The company has a 50-day simple moving average of $21.50 and a 200-day simple moving average of $23.46. The company has a market cap of $1.77 billion, a PE ratio of 7.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. The business had revenue of $352.88 million for the quarter, compared to analyst estimates of $329.38 million. During the same quarter last year, the business earned $0.47 EPS. On average, equities analysts anticipate that Star Bulk Carriers will post 3.47 earnings per share 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 was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 13.30%. Star Bulk Carriers’s payout ratio is currently 102.94%.

Institutional Trading of Star Bulk Carriers

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Star Bulk Carriers in the 2nd quarter worth $32,000. Atlas Capital Advisors LLC acquired a new position in Star Bulk Carriers during the 1st quarter worth $36,000. FinTrust Capital Advisors LLC increased 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 purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Star Bulk Carriers during the second quarter worth about $54,000. Finally, Creekmur Asset Management LLC acquired a new position in Star Bulk Carriers in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

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.