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

Star Bulk Carriers (NASDAQ:SBLK) issued its earnings results on Tuesday. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 Up 1.8 %

Shares of SBLK traded up $0.29 during trading hours on Tuesday, hitting $16.39. The company had a trading volume of 3,313,583 shares, compared to its average volume of 1,765,247. 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 company has a market capitalization of $1.38 billion, a PE ratio of 5.54 and a beta of 0.95. Star Bulk Carriers has a one year low of $14.30 and a one year high of $27.47. The company’s fifty day moving average price is $15.17 and its two-hundred day moving average price is $18.55.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.20%. Star Bulk Carriers’s dividend payout ratio is presently 81.08%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBLK. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their price target for the company from $19.30 to $20.20 in a report on Thursday, November 21st. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Stifel Nicolaus lowered Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their price target for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently 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.