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

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

Star Bulk Carriers Stock Performance

Shares of SBLK stock traded up $0.50 on Friday, hitting $18.52. The company's stock had a trading volume of 1,566,439 shares, compared to its average volume of 1,825,640. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.47 and a current ratio of 1.65. The stock's 50 day moving average is $16.67 and its 200-day moving average is $15.65. Star Bulk Carriers has a fifty-two week low of $12.06 and a fifty-two week high of $24.51. The company has a market capitalization of $2.18 billion, a PE ratio of 9.35 and a beta of 0.93.

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

Star Bulk Carriers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. Star Bulk Carriers's payout ratio is 10.10%.

Institutional Investors Weigh In On Star Bulk Carriers

A number of large investors have recently bought and sold shares of SBLK. Steward Partners Investment Advisory LLC grew its stake in Star Bulk Carriers by 177.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after buying an additional 1,676 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Star Bulk Carriers in the fourth quarter worth about $970,000. Moors & Cabot Inc. lifted its holdings in shares of Star Bulk Carriers by 29.0% in the fourth quarter. Moors & Cabot Inc. now owns 45,646 shares of the shipping company's stock worth $682,000 after acquiring an additional 10,250 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Star Bulk Carriers by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock worth $275,000 after acquiring an additional 826 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Star Bulk Carriers in the fourth quarter worth about $356,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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.