Star Bulk Carriers (NASDAQ:SBLK) Announces Quarterly Earnings Results

Star Bulk Carriers (NASDAQ:SBLK) posted its quarterly earnings data on Tuesday. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.08), Zacks reports. Star Bulk Carriers had a return on equity of 14.82% and a net margin of 24.75%.

Star Bulk Carriers Stock Performance

Shares of Star Bulk Carriers stock opened at $16.39 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 5.54 and a beta of 0.95. The company’s fifty day moving average is $15.17 and its 200 day moving average is $18.55. Star Bulk Carriers has a twelve month low of $14.30 and a twelve month high of $27.47.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.20%. Star Bulk Carriers’s dividend payout ratio is 81.08%.

Analyst Ratings Changes

SBLK has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price target for the stock from $19.30 to $20.20 in a report on Thursday, November 21st. Finally, Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price target for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.80.

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.