Star Bulk Carriers (NASDAQ:SBLK) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.68 and traded as high as $24.31. Star Bulk Carriers shares last traded at $24.10, with a volume of 539,685 shares.

Analysts Set New Price Targets

SBLK has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Zacks Research cut Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Wall Street Zen cut Star Bulk Carriers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Star Bulk Carriers has a consensus rating of “Hold” and an average target price of $22.00.

Star Bulk Carriers Stock Down 0.9%

The company has a market capitalization of $2.73 billion, a P/E ratio of 33.01 and a beta of 0.78. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $23.61 and a 200 day moving average price of $20.68.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. Star Bulk Carriers had a return on equity of 3.89% and a net margin of 8.07%.The business had revenue of $230.79 million during the quarter, compared to analyst estimates of $250.51 million. On average, research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 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, March 19th. Shareholders of record on Monday, March 9th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Monday, March 9th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.11. Star Bulk Carriers’s dividend payout ratio (DPR) is 202.74%.

Institutional Trading of Star Bulk Carriers

Large investors have recently bought and sold shares of the business. Allianz Asset Management GmbH grew its holdings in Star Bulk Carriers by 34.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 652,982 shares of the shipping company’s stock worth $12,139,000 after acquiring an additional 168,491 shares during the period. Mirabella Financial Services LLP acquired a new stake in Star Bulk Carriers during the 3rd quarter worth about $2,822,000. DNB Asset Management AS grew its stake in shares of Star Bulk Carriers by 1.6% in the 3rd quarter. DNB Asset Management AS now owns 826,628 shares of the shipping company’s stock valued at $15,367,000 after buying an additional 13,277 shares during the period. Impala Asset Management LLC grew its stake in shares of Star Bulk Carriers by 39.2% in the 4th quarter. Impala Asset Management LLC now owns 167,000 shares of the shipping company’s stock valued at $3,210,000 after buying an additional 47,000 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $38,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.