FY2023 Earnings Estimate for Star Bulk Carriers Corp. Issued By Jefferies Financial Group (NASDAQ:SBLK)

Posted by on Apr 6th, 2023

Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Rating) – Analysts at Jefferies Financial Group cut their FY2023 earnings per share (EPS) estimates for Star Bulk Carriers in a note issued to investors on Tuesday, April 4th. Jefferies Financial Group analyst O. Nokta now expects that the shipping company will earn $3.42 per share for the year, down from their prior forecast of $3.51. Jefferies Financial Group has a “Buy” rating and a $26.00 price objective on the stock. The consensus estimate for Star Bulk Carriers’ current full-year earnings is $3.51 per share.

Separately, StockNews.com began coverage on shares of Star Bulk Carriers in a research note on Thursday, March 16th. They issued a “hold” rating on the stock.

Star Bulk Carriers Price Performance

SBLK opened at $20.68 on Wednesday. The stock has a fifty day moving average of $22.17 and a 200-day moving average of $20.53. The firm has a market capitalization of $2.13 billion, a P/E ratio of 3.74 and a beta of 1.04. Star Bulk Carriers has a 12-month low of $16.85 and a 12-month high of $33.99. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.55.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 28th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 11.61%. The ex-dividend date of this dividend was Monday, February 27th. Star Bulk Carriers’s dividend payout ratio is 43.40%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Star Bulk Carriers by 861.2% during the 1st quarter. JPMorgan Chase & Co. now owns 130,578 shares of the shipping company’s stock worth $3,877,000 after acquiring an additional 116,993 shares during the period. Raymond James & Associates lifted its position in Star Bulk Carriers by 101.2% in the 1st quarter. Raymond James & Associates now owns 72,627 shares of the shipping company’s stock valued at $2,156,000 after acquiring an additional 36,528 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Star Bulk Carriers during the 1st quarter worth about $290,000. PNC Financial Services Group Inc. bought a new stake in Star Bulk Carriers during the 1st quarter worth about $630,000. Finally, BlackRock Inc. increased its stake in shares of Star Bulk Carriers by 46.1% during the 1st quarter. BlackRock Inc. now owns 791,111 shares of the shipping company’s stock worth $23,488,000 after purchasing an additional 249,770 shares during the last quarter. Institutional investors own 46.29% of the company’s stock.

About Star Bulk Carriers

(Get Rating)

Star Bulk Carriers Corp. provides seaborne transportation solutions in the dry bulk sector. The firm’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.

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