Star Bulk Carriers (NASDAQ:SBLK) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Star Bulk Carriers (NASDAQ:SBLK) released its quarterly earnings results on Tuesday. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08), Zacks reports. Star Bulk Carriers had a return on equity of 14.82% and a net margin of 24.75%.

Star Bulk Carriers Trading Up 1.8 %

Shares of Star Bulk Carriers stock traded up $0.29 during mid-day trading on Tuesday, hitting $16.39. The stock had a trading volume of 3,313,583 shares, compared to its average volume of 1,765,247. The firm has a 50-day moving average of $15.17 and a two-hundred day moving average of $18.55. Star Bulk Carriers has a 12-month low of $14.30 and a 12-month high of $27.47. 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 firm has a market cap of $1.38 billion, a P/E ratio of 5.54 and a beta of 0.95.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.20%. Star Bulk Carriers’s dividend payout ratio (DPR) is 81.08%.

Wall Street Analysts Forecast Growth

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

About Star Bulk Carriers

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.