Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.96 and last traded at $25.96, with a volume of 521316 shares traded. The stock had previously closed at $25.00.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus boosted their price objective on Star Bulk Carriers from $76.00 to $83.00 and gave the stock a "buy" rating in a report on Wednesday, February 14th.
View Our Latest Research Report on SBLK
Star Bulk Carriers Trading Up 5.9 %
The company has a debt-to-equity ratio of 0.59, a current ratio of 1.26 and a quick ratio of 1.09. The business's 50-day moving average price is $24.06 and its two-hundred day moving average price is $21.89. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 14.95 and a beta of 1.07.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The shipping company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.16. Star Bulk Carriers had a net margin of 18.28% and a return on equity of 9.77%. The company had revenue of $263.46 million during the quarter, compared to the consensus estimate of $236.40 million. During the same period in the previous year, the business earned $0.90 earnings per share. Research analysts predict that Star Bulk Carriers Corp. will post 4.19 earnings per share for the current year.
Star Bulk Carriers Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.45 per share. This is an increase from Star Bulk Carriers's previous quarterly dividend of $0.22. This represents a $1.80 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Monday, March 11th. Star Bulk Carriers's payout ratio is currently 101.70%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Star Bulk Carriers by 1.4% during the first 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 in the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of Star Bulk Carriers by 100.0% during the first 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 in the last quarter. Boston Partners increased its holdings in shares of Star Bulk Carriers by 1.9% during the third quarter. Boston Partners now owns 53,843 shares of the shipping company's stock worth $1,038,000 after buying an additional 1,013 shares in the last quarter. Gilman Hill Asset Management LLC increased its holdings in shares of Star Bulk Carriers by 0.3% during the first 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 in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in shares of Star Bulk Carriers by 5.8% during the fourth quarter. Apollon Wealth Management LLC now owns 20,612 shares of the shipping company's stock worth $438,000 after buying an additional 1,131 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.
About Star Bulk Carriers
(
Get Free Report)
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.
Recommended Stories
Before you consider Star Bulk Carriers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Bulk Carriers wasn't on the list.
While Star Bulk Carriers currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
