Star Bulk Carriers (NASDAQ:SBLK) Shares Down 2.3% – Should You Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) was down 2.3% during trading on Tuesday . The stock traded as low as $20.01 and last traded at $20.17. Approximately 593,355 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,589,582 shares. The stock had previously closed at $20.64.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBLK. DNB Markets cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.33.

Star Bulk Carriers Price Performance

The firm has a 50 day moving average of $21.45 and a 200-day moving average of $23.39. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.69 billion, a P/E ratio of 8.95 and a beta of 0.98.

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 the consensus estimate of $0.79 by ($0.01). The company 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 business earned $0.47 EPS. On average, equities research analysts predict that Star Bulk Carriers Corp. will post 3.47 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 13.88%. The ex-dividend date was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 126.13%.

Institutional Investors Weigh In On Star Bulk Carriers

Several large investors have recently made changes to their positions in SBLK. Nisa Investment Advisors LLC purchased a new position in Star Bulk Carriers during the 2nd quarter valued at approximately $32,000. Atlas Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers in the first quarter valued at $36,000. FinTrust Capital Advisors LLC grew its holdings in shares of Star Bulk Carriers by 100.0% in the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Star Bulk Carriers in the second quarter worth $54,000. Finally, Point72 DIFC Ltd purchased a new stake in Star Bulk Carriers during the second quarter valued at $72,000. 33.91% of the stock is owned by institutional investors.

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.