Star Bulk Carriers (NASDAQ:SBLK) Reaches New 1-Year Low – Time to Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) shares hit a new 52-week low during trading on Thursday . The company traded as low as $14.19 and last traded at $14.26, with a volume of 1759269 shares trading hands. The stock had previously closed at $15.65.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.05.

Star Bulk Carriers Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The firm has a market cap of $1.67 billion, a P/E ratio of 4.95 and a beta of 1.03. The stock’s 50 day moving average is $15.78 and its two-hundred day moving average is $17.44.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). The company had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. As a group, equities analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.53%. Star Bulk Carriers’s dividend payout ratio is currently 12.54%.

Institutional Investors Weigh In On Star Bulk Carriers

Several institutional investors and hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its position in shares of Star Bulk Carriers by 23.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 59,006 shares of the shipping company’s stock worth $882,000 after purchasing an additional 11,067 shares in the last quarter. Michels Family Financial LLC bought a new stake in Star Bulk Carriers during the fourth quarter worth about $385,000. PharVision Advisers LLC acquired a new stake in shares of Star Bulk Carriers during the fourth quarter worth approximately $162,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Star Bulk Carriers by 12.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,000 shares of the shipping company’s stock valued at $12,154,000 after acquiring an additional 89,600 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in shares of Star Bulk Carriers by 67.3% in the 4th quarter. Vident Advisory LLC now owns 22,094 shares of the shipping company’s stock worth $330,000 after acquiring an additional 8,890 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

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.