Star Bulk Carriers (NASDAQ:SBLK) Shares Gap Up to $20.18

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.18, but opened at $21.05. Star Bulk Carriers shares last traded at $20.31, with a volume of 12,028 shares.

A number of research firms recently commented on SBLK. HC Wainwright started coverage on Star Bulk Carriers in a report on Monday, September 13th. They set a “buy” rating and a $35.00 target price for the company. SEB Equities started coverage on Star Bulk Carriers in a research report on Wednesday, June 2nd. They set a “buy” rating for the company. SEB Equity Research assumed coverage on Star Bulk Carriers in a research report on Wednesday, June 2nd. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $30.75.

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.95 and a current ratio of 1.12. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 9.56 and a beta of 1.18. The company has a 50 day moving average price of $20.90 and a 200 day moving average price of $19.54.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Wednesday, August 4th. The shipping company reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.18). The firm had revenue of $311.41 million during the quarter, compared to analysts’ expectations of $353.50 million. Star Bulk Carriers had a net margin of 23.49% and a return on equity of 13.66%. On average, research analysts forecast that Star Bulk Carriers Corp. will post 5.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Monday, August 23rd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 13.84%. The ex-dividend date of this dividend was Friday, August 20th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.30. Star Bulk Carriers’s payout ratio is currently 1,647.06%.

A number of hedge funds and other institutional investors have recently modified their holdings of SBLK. New York State Common Retirement Fund purchased a new stake in Star Bulk Carriers during the 2nd quarter worth about $28,000. Marshall Wace North America L.P. purchased a new position in shares of Star Bulk Carriers in the 1st quarter valued at about $47,000. Tarbox Family Office Inc. purchased a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $115,000. Barclays PLC purchased a new position in shares of Star Bulk Carriers in the 1st quarter valued at about $166,000. Finally, BlackRock Inc. purchased a new position in shares of Star Bulk Carriers in the 1st quarter valued at about $170,000. Institutional investors own 61.14% of the company’s stock.

Star Bulk Carriers Company Profile (NASDAQ:SBLK)

Star Bulk Carriers Corp. is a holding company, which engages in the provision of seaborne transportation solutions in the dry bulk sector. It ships iron ore, coal and grain, bauxite, fertilizers and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.

Featured Article: Investing strategies using the yield curve

Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.