Star Bulk Carriers Corp. (NASDAQ:SBLK) Declares Quarterly Dividend of $0.11
Star Bulk Carriers Corp. (NASDAQ:SBLK) announced a quarterly dividend of $0.11 per share, a 120% increase from the previous $0.05. The dividend will be paid on December 18th to stockholders of record on December 5th, with a yield of 2.3%. The company has a payout ratio of 6.9% and is expected to maintain its dividend coverage with future earnings. Analysts have given the stock a consensus "Hold" rating with a price target of $21.10.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Friday, December 5th will be paid a dividend of 0.11 per share by the shipping company on Thursday, December 18th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, December 5th. This is a 120.0% increase from Star Bulk Carriers's previous quarterly dividend of $0.05.
- Oil’s Rally Could Boost These 3 Shipping Stocks
Star Bulk Carriers has raised its dividend payment by an average of 1.2%annually over the last three years. Star Bulk Carriers has a payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Star Bulk Carriers to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.6%.
Get Star Bulk Carriers alerts:
Star Bulk Carriers Stock Down 0.1%
Star Bulk Carriers stock opened at $19.28 on Wednesday. The business's 50-day moving average price is $18.53 and its 200 day moving average price is $17.96. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 18.16 and a beta of 0.92. Star Bulk Carriers has a 52 week low of $12.06 and a 52 week high of $20.20.
Wall Street Analyst Weigh In
- 3 Small-Cap Stocks on the Way to Bigger and Better Days
A number of brokerages have recently commented on SBLK. Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Jefferies Financial Group reissued a "buy" rating and set a $22.00 target price on shares of Star Bulk Carriers in a research note on Wednesday. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Star Bulk Carriers in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.10.
View Our Latest Report on Star Bulk Carriers
About Star Bulk Carriers
(Get Free Report)- Spotlight on ZIM: Take Advantage of Shipping Stock Upside
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.
See Also
- Five stocks we like better than Star Bulk Carriers
- How to Effectively Use the MarketBeat Ratings Screener
- Healthcare Rotation Underway: 3 Stocks Leading the Charge
- Top Stocks Investing in 5G Technology
- Medtronic Stock Finds Its Footing—Now It’s Gaining Momentum
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- What’s on the Thanksgiving Table? A Stock Pick for Every Course
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Star Bulk Carriers Right Now?
Before you consider Star Bulk Carriers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Bulk Carriers wasn't on the list.
While Star Bulk Carriers currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
