Star Bulk Carriers (NASDAQ:SBLK) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Stock crossed above its 200-day moving average: SBLK traded as high as $24.11 and last at $23.81, above the 200-day SMA of $20.19, on volume of about 2.1 million shares.
• Dividend sharply increased: The quarterly dividend was raised to $0.37 (annualized $1.48), implying a ~6.2% yield, though the payout ratio is very high at ~202.7%.
• Mixed fundamentals and analyst stance: Q4 EPS of $0.62 topped estimates while revenue missed, and analysts' consensus is an average "Hold" with a $22 target.

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.19 and traded as high as $24.11. Star Bulk Carriers shares last traded at $23.81, with a volume of 2,096,568 shares changing hands.

Analyst Ratings Changes

SBLK has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating and set a $22.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Finally, Zacks Research downgraded Star Bulk Carriers from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.00.

Star Bulk Carriers Stock Performance

The stock has a market cap of $2.80 billion, a P/E ratio of 32.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The stock's 50 day simple moving average is $22.66 and its two-hundred day simple moving average is $20.19.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. Star Bulk Carriers had a net margin of 8.07% and a return on equity of 3.90%. The company had revenue of $230.79 million during the quarter, compared to the consensus estimate of $250.51 million. As a group, research analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.37 per share. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.11. The ex-dividend date is Monday, March 9th. This represents a $1.48 dividend on an annualized basis and a yield of 6.2%. Star Bulk Carriers's dividend payout ratio is currently 202.74%.

Institutional Trading of Star Bulk Carriers

A number of institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Star Bulk Carriers during the fourth quarter worth about $26,000. Triumph Capital Management acquired a new stake in Star Bulk Carriers in the 3rd quarter valued at approximately $26,000. Rhumbline Advisers lifted its stake in Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock valued at $32,000 after acquiring an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Star Bulk Carriers in the 3rd quarter valued at approximately $33,000. Finally, Leonteq Securities AG acquired a new position in Star Bulk Carriers during the 4th quarter worth approximately $38,000. 33.91% of the stock is currently owned by institutional investors.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company's vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.