Key Points
- Director Eleni Vrettou sold 3,500 Star Bulk Carriers shares at an average price of $32.12, generating $112,420. She retains 73,686 shares, with the sale reducing her ownership by 4.53%.
- Star Bulk reported quarterly EPS of $1.21, beating estimates of $0.95, on revenue of $284.60 million. The company also raised its quarterly dividend to $0.90 per share, equivalent to a $3.60 annualized payout and an 11.6% yield.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $31.50; SBLK recently traded at $30.94.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) Director Eleni Vrettou sold 3,500 shares of the firm's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $32.12, for a total value of $112,420.00. Following the completion of the transaction, the director directly owned 73,686 shares in the company, valued at approximately $2,366,794.32. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Star Bulk Carriers Price Performance
NASDAQ SBLK opened at $30.94 on Wednesday. The business's fifty day moving average is $29.49 and its 200 day moving average is $26.74. Star Bulk Carriers Corp. has a fifty-two week low of $16.72 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 1.91. The company has a market capitalization of $3.51 billion, a PE ratio of 12.13 and a beta of 0.70.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, topping 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 firm had revenue of $284.60 million for the quarter, compared to the consensus estimate of $284.29 million. Sell-side analysts predict that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current year.
Star Bulk Carriers Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date was Friday, August 21st. This is a positive change from Star Bulk Carriers's previous quarterly dividend of $0.50. Star Bulk Carriers's dividend payout ratio (DPR) is 141.18%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Zacks Research cut Star Bulk Carriers from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Finally, Weiss Ratings upgraded Star Bulk Carriers from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 27th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.50.
Check Out Our Latest Stock Report on Star Bulk Carriers
Hedge Funds Weigh In On Star Bulk Carriers
Several institutional investors have recently bought and sold shares of SBLK. Leonteq Securities AG bought a new position in Star Bulk Carriers during the fourth quarter valued at approximately $38,000. SG Americas Securities LLC purchased a new stake in shares of Star Bulk Carriers during the 1st quarter worth approximately $187,000. Summit Securities Group LLC bought a new position in shares of Star Bulk Carriers during the 1st quarter valued at approximately $193,000. State of Wyoming grew its holdings in shares of Star Bulk Carriers by 190.3% in the first quarter. State of Wyoming now owns 10,363 shares of the shipping company's stock valued at $238,000 after purchasing an additional 6,793 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Star Bulk Carriers in the first quarter worth $403,000. 33.91% of the stock is owned by hedge funds and other institutional investors.
About Star Bulk Carriers
(
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.
Further Reading
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