Star Bulk Carriers (NASDAQ:SBLK) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Star Bulk Carriers (NASDAQ:SBLK) in a research report report published on Wednesday, Benzinga reports. The brokerage issued a buy rating and a $26.00 target price on the shipping company’s stock.

A number of other research analysts have also commented on SBLK. Jefferies Financial Group reiterated a buy rating and set a $30.00 price objective on shares of Star Bulk Carriers in a research note on Thursday, May 23rd. StockNews.com raised shares of Star Bulk Carriers from a hold rating to a buy rating in a research note on Friday, May 24th. Finally, Stifel Nicolaus raised their target price on shares of Star Bulk Carriers from $28.00 to $32.00 and gave the stock a buy rating in a report on Friday, May 24th.

Star Bulk Carriers Stock Down 3.9 %

Shares of Star Bulk Carriers stock opened at $19.87 on Wednesday. Star Bulk Carriers has a 1-year low of $17.12 and a 1-year high of $27.47. The company has a market capitalization of $1.67 billion, a P/E ratio of 8.95 and a beta of 0.97. The business’s fifty day moving average price is $22.39 and its two-hundred day moving average price is $23.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $352.88 million during the quarter, compared to analyst estimates of $329.38 million. Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. During the same period in the previous year, the company earned $0.47 EPS. As a group, research analysts forecast that Star Bulk Carriers will post 3.47 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 14.09%. The ex-dividend date of this dividend was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio is presently 126.13%.

Institutional Inflows and Outflows

Several institutional 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 worth approximately $32,000. Atlas Capital Advisors LLC acquired a new position in Star Bulk Carriers during the first quarter valued at $36,000. VisionPoint Advisory Group LLC acquired a new position in Star Bulk Carriers during the fourth quarter valued at $36,000. Principal Securities Inc. acquired a new stake in Star Bulk Carriers during the 4th quarter worth about $40,000. Finally, FinTrust Capital Advisors LLC boosted its position in Star Bulk Carriers by 100.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after acquiring an additional 1,000 shares during the period. 33.91% of the stock is owned by hedge funds and other 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.