Star Bulk Carriers (NASDAQ:SBLK) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Star Bulk Carriers (NASDAQ:SBLKGet Rating) from a hold rating to a buy rating in a research report report published on Saturday.

Separately, Jefferies Financial Group assumed coverage on shares of Star Bulk Carriers in a research note on Wednesday, April 27th. They issued a buy rating for the company.

Shares of SBLK stock opened at $22.53 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.13 and a quick ratio of 1.86. The firm has a market cap of $2.30 billion, a PE ratio of 2.83 and a beta of 0.98. The company has a 50-day moving average of $28.83 and a two-hundred day moving average of $27.06. Star Bulk Carriers has a 1-year low of $16.56 and a 1-year high of $33.99.

Star Bulk Carriers (NASDAQ:SBLKGet Rating) last announced its earnings results on Tuesday, May 24th. The shipping company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.25. Star Bulk Carriers had a net margin of 51.34% and a return on equity of 42.24%. During the same quarter last year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that Star Bulk Carriers will post 7.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Friday, June 3rd were issued a dividend of $1.65 per share. The ex-dividend date was Thursday, June 2nd. This represents a $6.60 dividend on an annualized basis and a yield of 29.29%. Star Bulk Carriers’s payout ratio is currently 82.81%.

Hedge funds have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. acquired a new stake in Star Bulk Carriers during the first quarter worth approximately $26,000. IronBridge Private Wealth LLC acquired a new stake in Star Bulk Carriers during the fourth quarter worth approximately $34,000. Spire Wealth Management acquired a new stake in Star Bulk Carriers during the fourth quarter worth approximately $45,000. Geneos Wealth Management Inc. acquired a new stake in Star Bulk Carriers during the fourth quarter worth approximately $47,000. Finally, Worth Asset Management LLC acquired a new stake in Star Bulk Carriers during the first quarter worth approximately $73,000. 49.81% of the stock is currently owned by institutional investors.

About Star Bulk Carriers (Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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