Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,180,000 shares, a drop of 14.5% from the August 31st total of 2,550,000 shares. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is presently 1.3 days.
Wall Street Analyst Weigh In
Separately, Deutsche Bank Aktiengesellschaft began coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock.
View Our Latest Report on SBLK
Institutional Inflows and Outflows
Star Bulk Carriers Trading Down 0.6 %
SBLK opened at $23.54 on Friday. The firm has a market capitalization of $1.98 billion, a PE ratio of 10.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers has a fifty-two week low of $17.91 and a fifty-two week high of $27.47. The company’s 50-day moving average is $21.58 and its 200 day moving average is $23.59.
Star Bulk Carriers (NASDAQ:SBLK – Get Free Report) last posted its earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $352.88 million during the quarter, compared to the consensus estimate of $329.38 million. Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. During the same quarter in the prior year, the business earned $0.47 EPS. As a group, research analysts predict that Star Bulk Carriers will post 3.32 earnings per share for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 11.89%. Star Bulk Carriers’s payout ratio is 126.13%.
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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