Star Bulk Carriers (NASDAQ:SBLK) Cut to Sell at Wall Street Zen

Key Points

• Star Bulk Carriers has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen, signaling potential concerns about the company's future performance.
• The company reported a quarterly earnings loss of ($0.07) per share, which was better than analysts' expectations of ($0.28), although its revenue fell short at $159.28 million.
• Recent activity from institutional investors shows a significant increase in stake, with Capital Analysts LLC boosting their position by 215.9% during the fourth quarter.

Wall Street Zen lowered shares of Star Bulk Carriers (NASDAQ:SBLK - Free Report) from a hold rating to a sell rating in a report issued on Saturday.

Star Bulk Carriers Price Performance

SBLK stock traded up $0.16 during midday trading on Friday, reaching $18.42. The company had a trading volume of 574,682 shares, compared to its average volume of 1,206,653. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 9.30 and a beta of 0.94. The stock has a 50 day moving average price of $17.46 and a 200-day moving average price of $16.03. Star Bulk Carriers has a 1-year low of $12.06 and a 1-year high of $23.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.47.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. The firm had revenue of $159.28 million during the quarter, compared to the consensus estimate of $162.57 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Equities research analysts expect that Star Bulk Carriers will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 6th. Star Bulk Carriers's dividend payout ratio is presently 10.10%.

Institutional Investors Weigh In On Star Bulk Carriers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Analysts LLC grew its position in Star Bulk Carriers by 215.9% during the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after buying an additional 1,561 shares during the period. GAMMA Investing LLC grew its position 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 buying an additional 2,912 shares during the period. Public Employees Retirement System of Ohio grew its position in Star Bulk Carriers by 34.0% during the second quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company's stock valued at $59,000 after buying an additional 864 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in Star Bulk Carriers during the first quarter valued at about $67,000. Finally, Mountain Hill Investment Partners Corp. grew its position in Star Bulk Carriers by 66.7% during the first quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company's stock valued at $78,000 after buying an additional 2,000 shares during the period. 33.91% of the stock is owned by hedge funds and other institutional investors.

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.