Star Bulk Carriers (NASDAQ:SBLK) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a research report released on Thursday.

A number of other analysts have also commented on the company. DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their target price for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Jefferies Financial Group restated a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Stifel Nicolaus lowered shares of 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 research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.80.

Star Bulk Carriers Trading Down 0.4 %

NASDAQ:SBLK opened at $15.45 on Thursday. Star Bulk Carriers has a 12 month low of $15.34 and a 12 month 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 $1.30 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 4.04 and a beta of 0.96. The firm has a fifty day simple moving average of $19.31 and a two-hundred day simple moving average of $21.75.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.40 annualized dividend and a dividend yield of 15.53%. Star Bulk Carriers’s payout ratio is 81.08%.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers in the 2nd quarter worth $32,000. Blue Trust Inc. boosted its holdings in Star Bulk Carriers by 190.5% during the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after purchasing an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Star Bulk Carriers in the 2nd quarter worth about $54,000. Quarry LP increased its stake in Star Bulk Carriers by 39.8% in the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after buying an additional 673 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Star Bulk Carriers during the 3rd quarter worth approximately $57,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

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.