Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels. The company also provides vessel management services. Star Bulk Carriers Corp. was incorporated in 2006 and is based in Marousi, Greece.
Star Bulk Carriers Stock Down 0.2 %
SBLK traded down $0.05 on Wednesday, reaching $25.85. The company's stock had a trading volume of 2,643,203 shares, compared to its average volume of 2,678,267. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 2.94 and a beta of 0.94. Star Bulk Carriers has a fifty-two week low of $17.80 and a fifty-two week high of $33.99. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $25.20 and a two-hundred day moving average of $27.76.
Star Bulk Carriers (NASDAQ:SBLK - Get Rating) last issued its earnings results on Thursday, August 4th. The shipping company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.25. Star Bulk Carriers had a net margin of 52.61% and a return on equity of 43.53%. During the same period in the previous year, the business posted $1.26 earnings per share. As a group, analysts forecast that Star Bulk Carriers will post 6.54 EPS for the current fiscal year.
Star Bulk Carriers Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th will be issued a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 25.53%. The ex-dividend date of this dividend is Wednesday, August 24th. Star Bulk Carriers's payout ratio is currently 75.86%.
Analyst Ratings Changes
Several brokerages have recently issued reports on SBLK. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Wednesday, August 3rd. Stifel Nicolaus lowered their price target on shares of Star Bulk Carriers from $37.00 to $32.00 in a report on Tuesday, July 19th. Finally, Jefferies Financial Group started coverage on shares of Star Bulk Carriers in a research report on Wednesday, July 20th. They set a "buy" rating and a $30.00 price objective for the company.