Star Bulk Carriers Corp. (NASDAQ:SBLK) Receives $22.30 Consensus PT from Brokerages

Key Points

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Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $22.30.

Several equities research analysts have recently issued reports on SBLK shares. Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, 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.

Institutional Investors Weigh In On Star Bulk Carriers

A number of large investors have recently added to or reduced their stakes in SBLK. Capital Analysts LLC boosted its stake in Star Bulk Carriers by 215.9% during the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after acquiring an additional 1,561 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Star Bulk Carriers by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company's stock valued at $42,000 after acquiring an additional 1,391 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after buying an additional 2,912 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Star Bulk Carriers by 34.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company's stock worth $59,000 after buying an additional 864 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Star Bulk Carriers in the 1st quarter worth about $67,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Trading Up 0.7%

Shares of Star Bulk Carriers stock traded up $0.14 during trading hours on Tuesday, hitting $19.12. The company's stock had a trading volume of 826,824 shares, compared to its average volume of 988,258. Star Bulk Carriers has a 1-year low of $12.06 and a 1-year high of $23.82. The business has a fifty day moving average of $18.18 and a 200 day moving average of $16.43. The company has a market capitalization of $2.25 billion, a PE ratio of 18.21 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.

Star Bulk Carriers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Thursday, August 28th will be issued a dividend of $0.05 per share. This represents a $0.20 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's dividend payout ratio (DPR) is presently 19.05%.

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.