Star Bulk Carriers (NASDAQ:SBLK) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Star Bulk Carriers (NASDAQ:SBLK) in a research note published on Wednesday morning, Benzinga reports. The brokerage issued a buy rating and a $26.00 price target on the shipping company’s stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group reaffirmed a buy rating and set a $30.00 target price on shares of Star Bulk Carriers in a research report on Thursday, May 23rd. Stifel Nicolaus upped their price objective on shares of Star Bulk Carriers from $28.00 to $32.00 and gave the stock a buy rating in a report on Friday, May 24th. Finally, StockNews.com upgraded shares of Star Bulk Carriers from a hold rating to a buy rating in a report on Friday, May 24th.

Star Bulk Carriers Stock Down 0.0 %

Shares of NASDAQ SBLK opened at $20.55 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.73 billion, a PE ratio of 9.26 and a beta of 0.97. The company’s fifty day simple moving average is $22.64 and its 200 day simple moving average is $23.87. Star Bulk Carriers has a 12-month low of $17.12 and a 12-month high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. The company had revenue of $352.88 million for the quarter, compared to the consensus estimate of $329.38 million. During the same period last year, the company earned $0.47 EPS. As a group, sell-side analysts forecast that Star Bulk Carriers will post 3.47 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Tuesday, August 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 13.63%. The ex-dividend date of this dividend is Tuesday, August 27th. Star Bulk Carriers’s payout ratio is currently 126.13%.

Institutional Trading of Star Bulk Carriers

Several institutional investors have recently made changes to their positions in the company. Encompass Capital Advisors LLC lifted its position in shares of Star Bulk Carriers by 27.5% during the second quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company’s stock valued at $50,034,000 after purchasing an additional 442,860 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Star Bulk Carriers by 101.8% during the 2nd quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company’s stock worth $43,675,000 after buying an additional 903,542 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Star Bulk Carriers by 25.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,746,070 shares of the shipping company’s stock worth $42,569,000 after buying an additional 358,870 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Star Bulk Carriers by 335.4% in the second quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company’s stock valued at $29,774,000 after acquiring an additional 940,745 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in shares of Star Bulk Carriers by 29.4% during the second quarter. Artemis Investment Management LLP now owns 1,025,802 shares of the shipping company’s stock valued at $25,009,000 after acquiring an additional 233,000 shares during the last quarter. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

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.