Key Points
- CFO Symeon Spyrou bought 15,000 Star Bulk shares at an average price of $28.27, investing $424,050 and increasing his direct holdings by 6.63% to 241,200 shares.
- Star Bulk reported quarterly EPS of $1.21, beating estimates of $0.95, while revenue was approximately $284.6 million. Its quarterly dividend increased to $0.90 per share, implying an annualized yield of about 11.7%.
- Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $31.50, although the company’s new share issuance could dilute existing shareholders.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) Director Nikolaos Karellis purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $28.27 per share, for a total transaction of $56,540.00. Following the purchase, the director directly owned 9,580 shares in the company, valued at $270,826.60. This trade represents a 26.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Star Bulk Carriers Stock Performance
Shares of SBLK stock opened at $30.87 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.74. The company's fifty day moving average price is $29.05 and its two-hundred day moving average price is $26.58. The firm has a market capitalization of $3.50 billion, a P/E ratio of 12.11 and a beta of 0.70. Star Bulk Carriers Corp. has a 12 month low of $16.72 and a 12 month high of $32.88.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.26. Star Bulk Carriers had a return on equity of 11.72% and a net margin of 23.87%.The company had revenue of $284.60 million during the quarter, compared to the consensus estimate of $284.29 million. On average, research analysts anticipate that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current fiscal year.
Star Bulk Carriers Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Friday, August 21st were issued a $0.90 dividend. This is an increase from Star Bulk Carriers's previous quarterly dividend of $0.50. This represents a $3.60 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend was Friday, August 21st. Star Bulk Carriers's dividend payout ratio (DPR) is currently 141.18%.
Key Headlines Impacting Star Bulk Carriers
Here are the key news stories impacting Star Bulk Carriers this week:
- Positive Sentiment: Company insiders purchased a combined 23,000 SBLK shares for approximately $650,000 at $28.27 per share. CFO Symeon Spyrou bought 15,000 shares, while directors Koert Erhardt and Nikolaos Karellis also increased their holdings. The purchases may signal that insiders view the stock as attractively valued. Insider buying report
- Positive Sentiment: Zacks added Star Bulk Carriers to its Rank #1, or “Strong Buy,” list and its Strong Buy income-stock list. The coverage could attract additional momentum and dividend-focused investors, although it does not represent a change in the company’s operations. Zacks Strong Buy report
- Neutral Sentiment: SBLK completed its Euronext Athens listing and designated Greece as its home member state under Greek securities law. The move may broaden access to Greek and European investors, but it has limited immediate impact on earnings or cash flow. Euronext listing announcement
- Negative Sentiment: The follow-on public offering raised approximately €107.8 million. While the proceeds strengthen liquidity and could fund fleet investments or other corporate purposes, issuing additional shares can dilute existing shareholders and increase the stock’s supply—likely the main near-term overhang for SBLK. Greek offering results
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SBLK. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $32.00 price objective on shares of Star Bulk Carriers in a report on Friday, May 22nd. Jefferies Financial Group increased their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Star Bulk Carriers from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 27th. Finally, Zacks Research upgraded shares of Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat, Star Bulk Carriers currently has a consensus rating of "Buy" and an average price target of $31.50.
Read Our Latest Research Report on Star Bulk Carriers
Institutional Trading of Star Bulk Carriers
Institutional investors and hedge funds have recently bought and sold shares of the company. Leonteq Securities AG bought a new position in Star Bulk Carriers during the 4th quarter worth approximately $38,000. SG Americas Securities LLC bought a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $187,000. Summit Securities Group LLC bought a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $193,000. State of Wyoming raised its position in shares of Star Bulk Carriers by 190.3% during the 1st quarter. State of Wyoming now owns 10,363 shares of the shipping company's stock valued at $238,000 after acquiring an additional 6,793 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Star Bulk Carriers during the 1st quarter valued at approximately $403,000. Institutional investors and hedge funds own 33.91% of the company's stock.
Star Bulk Carriers Company Profile
(
Get Free Report)
Star Bulk Carriers Corp. is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its fleet serves the international supply chains for iron ore, grain, bauxite, fertilizers, steel products and other dry cargoes.
The company operates a diversified fleet that includes large Capesize and Newcastlemax vessels as well as Panamax, Ultramax and Supramax bulk carriers. Star Bulk's vessels serve customers and ports across major shipping routes worldwide, supporting commodity trade between producers, exporters and end markets.
Star Bulk Carriers was founded in 2006 and is headquartered in Maroussi, Greece, with the company incorporated in the Marshall Islands.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
