Star Bulk Carriers (NASDAQ:SBLK – Get Rating) issued its quarterly earnings results on Thursday. The shipping company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.75 by $0.25, Fidelity Earnings reports. Star Bulk Carriers had a net margin of 51.34% and a return on equity of 42.24%. During the same period last year, the firm posted $1.26 earnings per share.
Star Bulk Carriers Stock Up 3.3 %
Star Bulk Carriers stock traded up $0.82 during mid-day trading on Friday, hitting $25.58. The company had a trading volume of 3,236,969 shares, compared to its average volume of 2,678,491. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 3.21 and a beta of 0.94. Star Bulk Carriers has a 1 year low of $17.80 and a 1 year high of $33.99. The company has a quick ratio of 1.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $26.06 and a 200 day moving average of $27.45.
Star Bulk Carriers Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Friday, June 3rd were paid a $1.65 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $6.60 annualized dividend and a yield of 25.80%. Star Bulk Carriers’s dividend payout ratio is currently 82.81%.
Institutional Investors Weigh In On Star Bulk Carriers
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Star Bulk Carriers in a report on Wednesday, July 20th. They issued a “buy” rating and a $30.00 price target for the company. Stifel Nicolaus dropped their target price on shares of Star Bulk Carriers from $37.00 to $32.00 in a report on Tuesday, July 19th. Finally, StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday.
Star Bulk Carriers Company Profile
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.
- Get a free copy of the StockNews.com research report on Star Bulk Carriers (SBLK)
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