Star Bulk Carriers (NASDAQ:SBLK) Releases Earnings Results, Beats Estimates By $0.25 EPS

Star Bulk Carriers (NASDAQ:SBLKGet Rating) announced its earnings results on Thursday. The shipping company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.25, Fidelity Earnings reports. Star Bulk Carriers had a net margin of 51.34% and a return on equity of 42.24%. During the same quarter last year, the firm earned $1.26 EPS.

Star Bulk Carriers Stock Performance

NASDAQ:SBLK traded up $0.82 during midday trading on Friday, reaching $25.58. The stock had a trading volume of 3,236,969 shares, compared to its average volume of 2,678,491. The firm has a fifty day simple moving average of $26.06 and a two-hundred day simple moving average of $27.45. Star Bulk Carriers has a 12-month low of $17.80 and a 12-month high of $33.99. The company has a quick ratio of 1.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.62 billion, a P/E ratio of 3.21 and a beta of 0.94.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Friday, June 3rd were given a $1.65 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $6.60 dividend on an annualized basis and a yield of 25.80%. Star Bulk Carriers’s dividend payout ratio (DPR) is 82.81%.

Institutional Investors Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently bought and sold shares of SBLK. Worth Asset Management LLC acquired a new stake in Star Bulk Carriers in the first quarter valued at $73,000. Captrust Financial Advisors lifted its holdings in Star Bulk Carriers by 29.2% in the first quarter. Captrust Financial Advisors now owns 2,656 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 600 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Star Bulk Carriers by 179,150.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,585 shares of the shipping company’s stock valued at $106,000 after acquiring an additional 3,583 shares during the period. IHT Wealth Management LLC acquired a new stake in Star Bulk Carriers in the first quarter valued at $221,000. Finally, Graham Capital Management L.P. acquired a new position in shares of Star Bulk Carriers during the 1st quarter worth $241,000. Institutional investors and hedge funds own 49.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SBLK shares. Stifel Nicolaus lowered their target price on shares of Star Bulk Carriers from $37.00 to $32.00 in a research report on Tuesday, July 19th. Jefferies Financial Group started coverage on shares of Star Bulk Carriers in a research report on Wednesday, July 20th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday.

About Star Bulk Carriers

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Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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Earnings History for Star Bulk Carriers (NASDAQ:SBLK)

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