Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) Director Nikolaos Karellis sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total value of $539,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Star Bulk Carriers Stock Performance
Shares of SBLK traded down $0.08 on Friday, reaching $27.07. 331,369 shares of the stock traded hands, compared to its average volume of 1,424,431. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 21.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.55. Star Bulk Carriers Corp. has a 12 month low of $16.21 and a 12 month high of $28.50. The stock’s 50-day moving average price is $25.83 and its 200-day moving average price is $23.13.
Star Bulk Carriers Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 12th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.4%. The ex-dividend date is Friday, June 12th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. Star Bulk Carriers’s dividend payout ratio is presently 118.40%.
Institutional Investors Weigh In On Star Bulk Carriers
Wall Street Analysts Forecast Growth
SBLK has been the subject of a number of analyst reports. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Jefferies Financial Group increased their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $31.50.
View Our Latest Research Report on SBLK
About Star Bulk Carriers
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.
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