Star Bulk Carriers (NASDAQ:SBLK) Reaches New 12-Month Low – Should You Sell?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $14.31 and last traded at $14.49, with a volume of 353088 shares trading hands. The stock had previously closed at $14.68.

Wall Street Analyst Weigh In

A number of analysts have commented on SBLK shares. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus lowered Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $28.00 price target on shares of Star Bulk Carriers in a report on Wednesday, November 20th. Finally, DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their price objective for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.80.

Star Bulk Carriers Stock Performance

The company has a market cap of $1.25 billion, a P/E ratio of 5.01, a P/E/G ratio of 4.30 and a beta of 0.98. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $19.60.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 16.17%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 81.08%.

Institutional Trading of Star Bulk Carriers

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Star Bulk Carriers by 190.5% in the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after acquiring an additional 1,328 shares during the period. Quarry LP increased its stake in shares of Star Bulk Carriers by 39.8% in the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after purchasing an additional 673 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Star Bulk Carriers in the 3rd quarter worth $57,000. Point72 DIFC Ltd purchased a new position in Star Bulk Carriers during the second quarter valued at $72,000. Finally, AM Squared Ltd bought a new stake in Star Bulk Carriers during the third quarter valued at about $76,000. 33.91% of the stock is currently owned by 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.