Star Bulk Carriers (NASDAQ:SBLK) Issues Earnings Results

Star Bulk Carriers (NASDAQ:SBLK) issued its quarterly earnings data on Tuesday. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Trading Up 1.8 %

Shares of SBLK stock traded up $0.29 on Tuesday, reaching $16.39. 3,313,583 shares of the company’s stock were exchanged, compared to its average volume of 1,765,247. The company’s fifty day simple moving average is $15.17 and its 200 day simple moving average is $18.55. Star Bulk Carriers has a 52 week low of $14.30 and a 52 week high of $27.47. 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 capitalization of $1.38 billion, a PE ratio of 5.54 and a beta of 0.95.

Star Bulk Carriers Cuts Dividend

The firm 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 annualized dividend and a dividend yield of 2.20%. Star Bulk Carriers’s payout ratio is 81.08%.

Wall Street Analysts Forecast Growth

SBLK has been the subject of a number of recent research reports. DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Jefferies Financial Group reissued a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus lowered 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Star Bulk Carriers presently has a consensus rating of “Hold” and an average target price of $23.80.

About Star Bulk Carriers

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.