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 research note released on Saturday.

Star Bulk Carriers Trading Down 2.4%

Shares of SBLK stock traded down $0.44 during trading hours on Friday, reaching $17.95. 599,985 shares of the stock were exchanged, compared to its average volume of 1,819,772. The company's 50-day moving average price is $16.73 and its 200-day moving average price is $15.69. Star Bulk Carriers has a 12-month low of $12.06 and a 12-month high of $24.51. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 9.08 and a beta of 0.93. The company has a current ratio of 1.65, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share 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 analyst estimates 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 previous year, the business posted $0.87 earnings per share. As a group, equities analysts anticipate that Star Bulk Carriers will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.11%. Star Bulk Carriers's dividend payout ratio is currently 10.10%.

Institutional Investors Weigh In On Star Bulk Carriers

A number of institutional investors have recently added to or reduced their stakes in SBLK. Capital Analysts LLC lifted its stake in shares of Star Bulk Carriers by 215.9% in the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after purchasing an additional 1,561 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after acquiring an additional 1,676 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Star Bulk Carriers in the fourth quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock valued at $48,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Star Bulk Carriers during the 1st quarter worth about $67,000. 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.