Star Bulk Carriers (NASDAQ:SBLK) Rating Increased to Hold at Wall Street Zen

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Separately, Jefferies Financial Group decreased their target price on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.05.

Star Bulk Carriers Price Performance

NASDAQ:SBLK opened at $17.40 on Friday. Star Bulk Carriers has a 1-year low of $12.06 and a 1-year high of $25.25. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $15.46. The stock has a market capitalization of $2.05 billion, a PE ratio of 6.06 and a beta of 0.95.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.21. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $162.57 million. During the same period last year, the business earned $0.87 earnings per share. On average, research analysts expect that Star Bulk Carriers will post 1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intrua Financial LLC boosted its position in Star Bulk Carriers by 49.0% during the first quarter. Intrua Financial LLC now owns 15,200 shares of the shipping company's stock worth $237,000 after purchasing an additional 5,000 shares during the period. Focus Partners Wealth boosted its position in shares of Star Bulk Carriers by 56.0% in the first quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company's stock valued at $14,599,000 after acquiring an additional 336,873 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Star Bulk Carriers by 59.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company's stock valued at $20,204,000 after acquiring an additional 485,436 shares during the period. Philosophy Capital Management LLC boosted its position in shares of 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 acquiring an additional 139,930 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Star Bulk Carriers in the first quarter valued at about $10,734,000. 33.91% of the stock is owned by institutional investors.

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.

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