Star Bulk Carriers (SBLK) – Analysts’ Recent Ratings Updates

Star Bulk Carriers (NASDAQ: SBLK) has recently received a number of price target changes and ratings updates:

• 11/21/2024 – Star Bulk Carriers was upgraded by analysts at DNB Markets from a “sell” rating to a “hold” rating. They now have a $20.20 price target on the stock, up previously from $19.30.
• 11/20/2024 – Star Bulk Carriers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/20/2024 – Star Bulk Carriers had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc.. They now have a $28.00 price target on the stock.
• 11/12/2024 – Star Bulk Carriers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/23/2024 – Star Bulk Carriers was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $21.00 price target on the stock, down previously from $30.00.
• 10/11/2024 – Star Bulk Carriers was downgraded by analysts at DNB Markets from a “hold” rating to a “sell” rating.

Star Bulk Carriers Stock Down 1.6 %

Shares of NASDAQ:SBLK opened at $17.04 on Monday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 4.51 and a beta of 1.00. The business’s 50 day moving average is $20.37 and its 200 day moving average is $22.27. Star Bulk Carriers Corp. has a 12-month low of $16.87 and a 12-month high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.08%. Star Bulk Carriers’s payout ratio is presently 94.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Philosophy Capital Management LLC bought a new position in shares of Star Bulk Carriers during the 3rd quarter valued at approximately $24,842,000. Bank of New York Mellon Corp bought a new stake in shares of Star Bulk Carriers in the second quarter valued at $23,212,000. Millennium Management LLC lifted its position in shares of Star Bulk Carriers by 335.4% during the 2nd quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company’s stock valued at $29,774,000 after buying an additional 940,745 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Star Bulk Carriers by 101.8% during the 2nd quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company’s stock worth $43,675,000 after acquiring an additional 903,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Star Bulk Carriers in the 3rd quarter worth about $17,137,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

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.