Star Bulk Carriers Corp. (NASDAQ:SBLK) Announces $0.05 Quarterly Dividend

Key Points

• Star Bulk Carriers Corp. declared a quarterly dividend of $0.05 per share, with an annualized yield of 1.1%, payable on September 10th to investors of record by August 28th.
• The company has a payout ratio of 12.5%, suggesting that its dividend payments are well-supported by earnings, with projected earnings of $2.64 per share expected for next year.
• Star Bulk Carriers' stock has seen a decline of 0.7% recently, trading at $18.84, while analysts have a consensus rating of "Hold" with a target price around $22.30.

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, NASDAQ Dividends reports. Investors of record on Thursday, August 28th will be paid a dividend of 0.05 per share by the shipping company on Wednesday, September 10th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 28th.

Star Bulk Carriers has a payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Star Bulk Carriers to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 13.6%.

Star Bulk Carriers Trading Up 1.5%

Star Bulk Carriers stock traded up $0.28 during midday trading on Wednesday, reaching $19.07. The stock had a trading volume of 308,685 shares, compared to its average volume of 1,735,063. Star Bulk Carriers has a twelve month low of $12.06 and a twelve month high of $23.82. The stock has a market capitalization of $2.24 billion, a PE ratio of 18.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The stock's 50-day simple moving average is $17.84 and its 200 day simple moving average is $16.23.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 4.97% and a net margin of 10.98%. The firm had revenue of $159.28 million for the quarter, compared to analysts' expectations of $162.57 million. During the same quarter last year, the firm earned $0.87 earnings per share. Analysts expect that Star Bulk Carriers will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

SBLK has been the topic of several research reports. Wall Street Zen raised Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday. Jefferies Financial Group reissued a "buy" rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.30.

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.