Star Bulk Carriers SBLK Receives a Rating Update from a Top Analyst

With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. Monday was a rough day all around on Wall Street but particularly painful for owners of ocean shipping stocks, which fell much more sharply than the broader market. The dry bulk market is still booming, but big troubles loom in China.

As of August 31st, there was short interest totaling 2,810,000 shares, a decrease of 28.3% from the August 15th total of 3,920,000 shares. Based on an average daily volume of 911,400 shares, the short-interest ratio is currently 3.1 days. Approximately 2.9% of the shares of the company are sold short. Star Bulk Carriers Corp is a diversified dry bulk shipper as well.

The company’s primary business is the oceanic transportation of dry bulk cargoes globally, although it does offer other services including vessel management. The company’s goal is to be a high-quality, sustainable and efficient operator that can produce long-term growth for investors. Growth will come via expansion and acquisitions as they present themselves. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.

Gimme shelter: Shipping stocks still rising amid Wall Street storm

Our system takes these estimate changes into account and delivers a clear, actionable rating model. We’d like to share more about how we work and what drives our day-to-day business. One share of SBLK stock can currently be purchased for approximately $17.44.

https://1investing.in/ is currently sporting a Zacks Rank of #3 (Hold). Star Bulk Carriers announced a quarterly dividend on Thursday, August 3rd. Investors of record on Tuesday, August 22nd will be given a dividend of $0.40 per share on Thursday, September 7th. This represents a $1.60 annualized dividend and a dividend yield of 9.17%. This is an increase from the stock’s previous quarterly dividend of $0.35. Star Bulk Carriers saw a decrease in short interest in the month of August.

• This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
• Star Bulk’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products.
• I’m not just talking about traditional commodities such as coal and iron ore here.
• The company is expected to report EPS of $0.82, down 72.3% from the prior-year quarter.
• This is an increase from the stock’s previous quarterly dividend of $0.35.

Christensen covers the Energy sector, focusing on stocks such as DHT Holdings, Frontline, and Nordic American Tanker. The Baltic Dry Index charges full speed ahead, dragging all the dry bulk stocks in its wake. The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, price volume trend while they also saw 28.3% annual returns on average, according to our 10 year backtest. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season.

SBLK Company Calendar

Upgrade to MarketBeat All Access to add more stocks to your watchlist. ATHENS, Greece, April 11, 2022 (GLOBE NEWSWIRE) — Star Bulk (the “Company”) has today filed a new automatic shelf registration on Form F-3 in order to replace the existing shelf registration statemen… Investing in sectors that rely on freely traded commodities is incredibly difficult. I’m not just talking about traditional commodities such as coal and iron ore here.

As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

Star Bulk Carriers Update: Staying The Course While Focusing On Longer Term Sector Fundamentals

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. Coming into today, shares of the shipping company had gained 14.01% in the past month. In that same time, the Transportation sector gained 2.89%, while the S&P 500 gained 4.58%. Forward-Looking StatementsMatters discussed in this press release may constitute forward looking statements.

Star Bulk Carriers’s most recent quarterly dividend payment of $0.40 per share was made to shareholders on Thursday, September 7, 2023. Bulk commodity shipping stocks kept rising in May even as the broader market fell, offering shelter from the storm. Get this delivered to your inbox, and more info about our products and services. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Based on our research, we believe these estimate revisions are directly related to near-team stock moves.

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

About MarketBeat

In a report released on August 20, Peter Christensen from Cleaves Securities maintained a Buy rating on Star Bulk Carriers (SBLK – Research Report), with a price target of $34.00. Star Bulk has participated in the CDP for a second year in a row achieving a score of B, improving its performance versus last year (2021) where it had scored a B-. This rating continues to place the Company at Management Level (B/B-) as per the CDP scoring, which is above the industry average of C (Awareness level), as well as above the global average of C (Awareness level).

The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. Star Bulk Carriers Corp. is a holding company, which engages in the provision of seaborne transportation solutions in the dry bulk sector. It ships iron ore, coal and grain, bauxite, fertilizers, and steel products.

Company Profile SBLK

This suggests a possible upside of 62.5% from the stock’s current price. View analysts price targets for SBLK or view top-rated stocks among Wall Street analysts. 2 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Star Bulk Carriers in the last twelve months.

The most recent change in the company’s dividend was an increase of $0.05 on Thursday, August 3, 2023. Over the past three years, the company’s dividend has grown by an average of 406.58% per year. Enter your email address below to receive the DividendStocks.com newsletter, a daily email that contains dividend stock ideas, ex-dividend stocks, and the latest dividend investing news. To increase their chances of discovering value opportunities, value investors may want to look for stocks whose Graham blended multipliers are below 22.5. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions.

The Transportation – Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries. Star Bulk Carriers (SBLK) closed the most recent trading day at $22.11, moving -0.45% from the previous trading session.

The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.95% lower within the past month.

The CDP Score enables companies to understand their standing on climate governance, to identify areas which require attention, and to make progress towards environmental stewardship through benchmarking with peers. The Company’s response to the 2022 CDP questionnaire is available on the CDP website. Compare
SBLK’s historical performance
against its industry peers and the overall market. SBLK’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.