Brokerages Set Star Bulk Carriers Corp. (NASDAQ:SBLK) Price Target at $21.07

Star Bulk Carriers Corp. (NASDAQ:SBLK) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.0667.

A number of analysts have recently commented on SBLK shares. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research note on Thursday, August 7th. Wall Street Zen upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Star Bulk Carriers in a research report on Saturday, September 27th. Finally, Zacks Research raised Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $18.41 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The firm has a fifty day moving average of $19.01 and a 200 day moving average of $17.12. The firm has a market cap of $2.17 billion, a PE ratio of 17.53 and a beta of 0.95. Star Bulk Carriers has a one year low of $12.06 and a one year high of $23.26.

Star Bulk Carriers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Star Bulk Carriers’s dividend payout ratio is presently 19.05%.

Hedge Funds Weigh In On Star Bulk Carriers

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Star Bulk Carriers by 4.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company’s stock valued at $236,000 after acquiring an additional 616 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Star Bulk Carriers by 34.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 864 shares in the last quarter. Glenorchy Capital Ltd increased its holdings in shares of Star Bulk Carriers by 4.7% in the second quarter. Glenorchy Capital Ltd now owns 27,432 shares of the shipping company’s stock valued at $473,000 after purchasing an additional 1,242 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Star Bulk Carriers by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Sowell Financial Services LLC lifted its position in Star Bulk Carriers by 2.4% during the first quarter. Sowell Financial Services LLC now owns 61,909 shares of the shipping company’s stock worth $963,000 after buying an additional 1,466 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

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.