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

Key Points

• Star Bulk Carriers Corp. (NASDAQ:SBLK) has received a consensus rating of "Hold" from five brokerages, with four holding the stock and one issuing a buy rating.
• The company's average 12-month price target among analysts is $21.07, while the stock recently traded at $18.41.
• Star Bulk Carriers declared a quarterly dividend of $0.05 per share, resulting in an annualized yield of 1.1% and a dividend payout ratio of 19.05%.

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) has been assigned an average rating of "Hold" from the five brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.0667.

Several brokerages have commented on SBLK. Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Jefferies Financial Group restated a "buy" rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Star Bulk Carriers in a report on Saturday, September 27th.

Star Bulk Carriers Trading Down 0.6%

Star Bulk Carriers stock traded down $0.11 during trading on Friday, reaching $18.41. The company had a trading volume of 868,586 shares, compared to its average volume of 1,125,427. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. Star Bulk Carriers has a 12-month low of $12.06 and a 12-month high of $23.26. The stock's 50 day moving average price is $19.01 and its two-hundred day moving average price is $17.12. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.53 and a beta of 0.95.

Star Bulk Carriers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 28th. Star Bulk Carriers's dividend payout ratio (DPR) is 19.05%.

Institutional Trading of Star Bulk Carriers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its stake in shares of Star Bulk Carriers by 97.0% during the first quarter. Golden State Wealth Management LLC now owns 69,936 shares of the shipping company's stock worth $1,088,000 after buying an additional 34,433 shares during the period. Aurora Private Wealth Inc. bought a new position in Star Bulk Carriers in the 1st quarter worth about $893,000. GAMMA Investing LLC lifted its stake in Star Bulk Carriers by 1,456.0% during the first quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock valued at $48,000 after purchasing an additional 2,912 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $394,000. Finally, LPL Financial LLC increased its stake in shares of Star Bulk Carriers by 40.8% during the 1st quarter. LPL Financial LLC now owns 174,623 shares of the shipping company's stock worth $2,717,000 after purchasing an additional 50,599 shares during the last quarter. 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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