Star Bulk Carriers Corp. (NASDAQ:SBLK) Receives Average Recommendation of "Hold" from Analysts

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Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) has been assigned an average recommendation of "Hold" from the five research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.30.

Several research analysts recently weighed in on the company. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday. Jefferies Financial Group reiterated a "buy" rating and set a $22.00 price target on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th.

Star Bulk Carriers Trading Up 1.6%

Shares of NASDAQ:SBLK opened at $18.95 on Tuesday. Star Bulk Carriers has a 52-week low of $12.06 and a 52-week high of $23.82. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 18.05 and a beta of 0.94. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $18.03 and a 200-day moving average price of $16.34.

Star Bulk Carriers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th will be given a $0.05 dividend. The ex-dividend date is Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Star Bulk Carriers's payout ratio is currently 19.05%.

Institutional Investors Weigh In On Star Bulk Carriers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. purchased a new stake in Star Bulk Carriers in the second quarter valued at $64,949,000. Kingstone Capital Partners Texas LLC purchased a new stake in Star Bulk Carriers in the second quarter valued at $57,227,000. Amundi raised its position in Star Bulk Carriers by 59.1% in the first quarter. Amundi now owns 1,868,249 shares of the shipping company's stock valued at $26,548,000 after purchasing an additional 693,683 shares during the period. Ameriprise Financial Inc. raised its position in Star Bulk Carriers by 7.0% in the second quarter. Ameriprise Financial Inc. now owns 1,627,325 shares of the shipping company's stock valued at $28,058,000 after purchasing an additional 107,069 shares during the period. Finally, Philosophy Capital Management LLC raised its position in Star Bulk Carriers by 10.1% in the first quarter. Philosophy Capital Management LLC now owns 1,519,259 shares of the shipping company's stock valued at $23,640,000 after purchasing an additional 139,930 shares during the period. Hedge funds and other institutional investors 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.

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