Star Bulk Carriers (NASDAQ:SBLK) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a strong-buy rating to a buy rating in a report published on Sunday.

A number of other research firms also recently issued reports on SBLK. Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.00.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock opened at $22.25 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. Star Bulk Carriers has a 12-month low of $12.06 and a 12-month high of $27.20. The company has a market cap of $2.52 billion, a P/E ratio of 30.48 and a beta of 0.73. The company’s fifty day simple moving average is $23.33 and its two-hundred day simple moving average is $20.51.

Star Bulk Carriers (NASDAQ:SBLK) last posted its earnings results on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.52 by $0.10. Star Bulk Carriers had a net margin of 8.07% and a return on equity of 3.89%. The firm had revenue of $230.79 million during the quarter, compared to analysts’ expectations of $250.51 million. Research analysts anticipate that Star Bulk Carriers will post 1.74 EPS for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.11. Star Bulk Carriers’s payout ratio is currently 202.74%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SBLK. USA Financial Formulas purchased a new stake in Star Bulk Carriers in the fourth quarter worth about $26,000. Triumph Capital Management bought a new stake in shares of Star Bulk Carriers in the 3rd quarter worth approximately $26,000. Rhumbline Advisers boosted its position in shares of Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Star Bulk Carriers in the 3rd quarter worth approximately $33,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Star Bulk Carriers in the 3rd quarter worth approximately $37,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.