Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) declared a quarterly dividend on Monday, February 12th, Zacks reports. Shareholders of record on Tuesday, March 12th will be paid a dividend of 0.45 per share by the shipping company on Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Monday, March 11th. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.22.
Star Bulk Carriers has raised its dividend payment by an average of 215.5% annually over the last three years and has increased its dividend every year for the last 1 years. Star Bulk Carriers has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Star Bulk Carriers to earn $3.67 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 49.0%.
Star Bulk Carriers Stock Performance
Star Bulk Carriers stock opened at $24.89 on Friday. The stock has a fifty day moving average price of $22.18 and a 200 day moving average price of $20.22. The company has a current ratio of 1.26, a quick ratio of 1.22 and a debt-to-equity ratio of 0.59. Star Bulk Carriers has a 52 week low of $16.57 and a 52 week high of $25.16. The firm has a market capitalization of $2.57 billion, a P/E ratio of 14.06 and a beta of 1.12.
Institutional Investors Weigh In On Star Bulk Carriers
Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Star Bulk Carriers in the second quarter valued at about $25,000. State of Wyoming acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at about $28,000. Worth Asset Management LLC purchased a new stake in shares of Star Bulk Carriers during the 1st quarter valued at about $73,000. Captrust Financial Advisors lifted its position in Star Bulk Carriers by 29.2% during the 1st quarter. Captrust Financial Advisors now owns 2,656 shares of the shipping company’s stock worth $79,000 after acquiring an additional 600 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Star Bulk Carriers by 179,150.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,585 shares of the shipping company’s stock worth $106,000 after acquiring an additional 3,583 shares during the period. Institutional investors and hedge funds own 44.66% of the company’s stock.
Analyst Ratings Changes
SBLK has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Star Bulk Carriers from $76.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group lifted their target price on Star Bulk Carriers from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 30th.
View Our Latest Analysis on SBLK
About Star Bulk Carriers
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2022, it had a fleet of 128 dry bulk vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels.
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