Star Bulk Carriers (NASDAQ:SBLK) Upgraded at ValuEngine

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

A number of other research analysts also recently issued reports on the stock. Fearnley Fonds upgraded shares of Star Bulk Carriers from a hold rating to a buy rating in a research report on Thursday, February 20th. BidaskClub lowered shares of Star Bulk Carriers from a sell rating to a strong sell rating in a research note on Saturday, January 25th. Zacks Investment Research upgraded shares of Star Bulk Carriers from a strong sell rating to a hold rating in a research note on Thursday, March 26th. Finally, DNB Markets lowered shares of Star Bulk Carriers from a buy rating to a hold rating and set a $10.40 target price for the company. in a research note on Monday, March 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Star Bulk Carriers currently has a consensus rating of Hold and an average price target of $11.35.

Shares of NASDAQ SBLK traded up $0.47 during midday trading on Thursday, reaching $5.45. The stock had a trading volume of 709,425 shares, compared to its average volume of 703,035. The firm has a market cap of $466.04 million, a price-to-earnings ratio of -27.25 and a beta of 1.45. Star Bulk Carriers has a twelve month low of $4.76 and a twelve month high of $12.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.69 and a current ratio of 0.86. The company’s 50 day moving average price is $7.32 and its 200 day moving average price is $9.70.

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

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

Several institutional investors have recently made changes to their positions in the company. Kistler Tiffany Companies LLC lifted its holdings in shares of Star Bulk Carriers by 100.0% in the fourth quarter. Kistler Tiffany Companies LLC now owns 4,000 shares of the shipping company’s stock worth $44,000 after buying an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Star Bulk Carriers in the third quarter worth about $32,000. Cetera Advisor Networks LLC lifted its holdings in shares of Star Bulk Carriers by 39.3% in the fourth quarter. Cetera Advisor Networks LLC now owns 20,161 shares of the shipping company’s stock worth $235,000 after buying an additional 5,687 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Star Bulk Carriers in the first quarter worth about $47,000. Finally, State Street Corp lifted its holdings in shares of Star Bulk Carriers by 9.3% in the third quarter. State Street Corp now owns 85,028 shares of the shipping company’s stock worth $856,000 after buying an additional 7,235 shares in 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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