Star Bulk Carriers (NASDAQ:SBLK) Shares Up 0.9%

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s share price shot up 0.9% on Monday . The stock traded as high as $21.90 and last traded at $21.79. 337,266 shares were traded during trading, a decline of 79% from the average session volume of 1,593,089 shares. The stock had previously closed at $21.59.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock.

Star Bulk Carriers Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. The firm has a market cap of $1.92 billion, a P/E ratio of 10.22 and a beta of 0.97. The firm’s 50-day moving average price is $21.61 and its 200 day moving average price is $23.60.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $352.88 million for 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 previous year, the firm earned $0.47 EPS. On average, equities research analysts expect that Star Bulk Carriers Corp. will post 3.32 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 12.28%. The ex-dividend date was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio is currently 126.13%.

Hedge Funds Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Star Bulk Carriers by 39.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,214 shares of the shipping company’s stock valued at $6,064,000 after acquiring an additional 80,406 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Star Bulk Carriers by 17.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 70,154 shares of the shipping company’s stock worth $1,491,000 after buying an additional 10,407 shares in the last quarter. Armor Advisors L.L.C. lifted its holdings in shares of Star Bulk Carriers by 56.1% in the fourth quarter. Armor Advisors L.L.C. now owns 133,576 shares of the shipping company’s stock valued at $2,840,000 after buying an additional 48,000 shares during the period. Seven Eight Capital LP boosted its stake in Star Bulk Carriers by 472.3% during the fourth quarter. Seven Eight Capital LP now owns 82,364 shares of the shipping company’s stock valued at $1,751,000 after buying an additional 67,973 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its stake in Star Bulk Carriers by 1.7% during the fourth quarter. Capital Fund Management S.A. now owns 257,665 shares of the shipping company’s stock valued at $5,478,000 after buying an additional 4,224 shares in 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.