Star Bulk Carriers (SBLK) Projected to Post Quarterly Earnings on Monday

Star Bulk Carriers (NASDAQ:SBLK) will likely be announcing its earnings results before the market opens on Monday, February 10th. Analysts expect the company to announce earnings of $0.45 per share for the quarter.

Star Bulk Carriers Price Performance

Shares of SBLK opened at $15.37 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.29 billion, a P/E ratio of 5.19 and a beta of 0.98. The stock’s 50-day moving average price is $15.50 and its two-hundred day moving average price is $19.17. Star Bulk Carriers has a 1 year low of $14.30 and a 1 year high of $27.47.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 15.61%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers’s payout ratio is presently 81.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBLK shares. Stifel Nicolaus lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their price target for the stock from $19.30 to $20.20 in a report on Thursday, November 21st. Jefferies Financial Group reiterated a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a report on Wednesday, November 20th. Finally, StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.