Star Bulk Carriers (NASDAQ:SBLK) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a sell rating to a hold rating in a report released on Thursday, ValuEngine reports.

SBLK has been the topic of a number of other research reports. Fearnley Fonds upgraded Star Bulk Carriers from a hold rating to a buy rating in a research report on Thursday, February 20th. BidaskClub cut Star Bulk Carriers from a sell rating to a strong sell rating in a research note on Saturday, January 25th. Zacks Investment Research raised Star Bulk Carriers from a strong sell rating to a hold rating in a research note on Thursday, March 26th. Finally, DNB Markets cut Star Bulk Carriers from a buy rating to a hold rating and set a $10.40 target price on the stock. in a research note on Monday, March 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $11.35.

Shares of NASDAQ:SBLK traded up $0.47 during trading on Thursday, hitting $5.45. 709,425 shares of the company were exchanged, compared to its average volume of 703,035. The company has a market cap of $466.04 million, a PE ratio of -27.25 and a beta of 1.45. The stock has a 50 day moving average of $7.32 and a 200 day moving average of $9.70. Star Bulk Carriers has a 52-week low of $4.76 and a 52-week high of $12.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.69.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.11. Star Bulk Carriers had a positive return on equity of 1.50% and a negative net margin of 1.97%. The company had revenue of $248.64 million for the quarter, compared to the consensus estimate of $253.49 million. Sell-side analysts forecast that Star Bulk Carriers will post 1.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.05 per share. The ex-dividend date was Friday, February 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.67%. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 76.92%.

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Star Bulk Carriers by 5.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,166,326 shares of the shipping company’s stock valued at $25,584,000 after buying an additional 120,792 shares during the last quarter. Jefferies Group LLC grew its stake in shares of Star Bulk Carriers by 14.1% during the fourth quarter. Jefferies Group LLC now owns 1,396,373 shares of the shipping company’s stock valued at $16,491,000 after buying an additional 172,157 shares during the last quarter. Phoenix Holdings Ltd. grew its stake in shares of Star Bulk Carriers by 18.9% during the fourth quarter. Phoenix Holdings Ltd. now owns 423,058 shares of the shipping company’s stock valued at $4,962,000 after buying an additional 67,317 shares during the last quarter. Hawk Ridge Capital Management LP bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at about $4,708,000. Finally, J. Goldman & Co LP grew its stake in shares of Star Bulk Carriers by 21.0% during the fourth quarter. J. Goldman & Co LP now owns 337,023 shares of the shipping company’s stock valued at $3,980,000 after buying an additional 58,585 shares during the last quarter. 60.38% of the stock is currently 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 major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

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