Star Bulk Carriers (NASDAQ:SBLK) Hits New 1-Year High – Time to Buy?
by Jessica Moore · The Cerbat GemStar Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.87 and last traded at $21.66, with a volume of 1052698 shares. The stock had previously closed at $21.40.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.00.
Read Our Latest Research Report on Star Bulk Carriers
Star Bulk Carriers Price Performance
The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $19.70 and a 200-day simple moving average of $19.02. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 41.65 and a beta of 0.75.
Star Bulk Carriers Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were issued a $0.11 dividend. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. Star Bulk Carriers’s payout ratio is currently 84.62%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in SBLK. Triumph Capital Management bought a new stake in shares of Star Bulk Carriers in the third quarter valued at about $26,000. USA Financial Formulas bought a new position in Star Bulk Carriers during the fourth quarter valued at about $26,000. Rhumbline Advisers raised its holdings in Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Star Bulk Carriers in the 3rd quarter worth approximately $33,000. Finally, Morse Asset Management Inc bought a new stake in shares of Star Bulk Carriers in the 3rd quarter worth approximately $37,000. Institutional investors own 33.91% of the company’s stock.
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.