Star Bulk Carriers (NASDAQ:SBLK) Hits New 52-Week Low – Should You Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.19 and last traded at $14.26, with a volume of 1759269 shares traded. The stock had previously closed at $15.65.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBLK shares. Jefferies Financial Group lowered their target price on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.05.

Star Bulk Carriers Stock Performance

The stock has a fifty day moving average price of $15.78 and a 200 day moving average price of $17.44. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 4.95 and a beta of 1.03.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. As a group, analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.09 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.53%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 12.54%.

Institutional Investors Weigh In On Star Bulk Carriers

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Star Bulk Carriers during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust acquired a new position in shares of Star Bulk Carriers during the fourth quarter worth approximately $30,000. Capital Analysts LLC boosted its position in shares of Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 1,561 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 1,676 shares during the period. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth $45,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.