Star Bulk Carriers Corp. (NASDAQ: SBLK) Has Advanced 230.08% In 2021; Is The Share Price Attractive Enough At $40.00? – Marketing Sentinel
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Star Bulk Carriers Corp. (NASDAQ: SBLK) Has Advanced 230.08% In 2021; Is The Share Price Attractive Enough At $40.00?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s traded shares stood at 2.4 million during the last session, with the company’s beta value hitting 1.15. At the close of trading, the stock’s price was $23.70, to imply a decrease of -3.93% or -$0.97 in intraday trading. The SBLK share’s 52-week high remains $26.00, putting it -9.7% down since that peak but still an impressive 74.18% since price per share fell to its 52-week low of $6.12. The company has a valuation of $2.31B, with an average of 2.23 million shares in intraday trading volume over the past 10 days and average of 1.97 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Star Bulk Carriers Corp. (SBLK), translating to a mean rating of 1.60. Of 10 analyst(s) looking at the stock, 0 analyst(s) give SBLK a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 9 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $2.07.

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Star Bulk Carriers Corp. (NASDAQ:SBLK) trade information

After registering a -3.93% downside in the last session, Star Bulk Carriers Corp. (SBLK) has traded red over the past five days. The stock hit a weekly high of 25.46 this Thursday, 10/07/21, dropping -3.93% in its intraday price action. The 5-day price performance for the stock is -1.41%, and 4.13% over 30 days. With these gigs, the year-to-date price performance is 168.40%. Short interest in Star Bulk Carriers Corp. (NASDAQ:SBLK) saw shorts transact 1.42 million shares and set a 0.68 days time to cover.

Analysts on Wall Street suggest a consensus price target of $32.03, implying an increase of 26.01% to the stock’s current value. The extremes give us $22.00 and $40.00 for target low and target high price respectively. As such, SBLK has been trading -68.78% off suggested target high and 7.17% from its likely low.

Star Bulk Carriers Corp. (SBLK) estimates and forecasts

Looking at statistics comparing Star Bulk Carriers Corp. share performance against respective industry, we note that the company has outperformed competitors. Star Bulk Carriers Corp. (SBLK) shares are 60.46% up over the last 6 months, with its year-to-date growth rate higher than industry average at 3,358.82% against -6.30%. Revenue is forecast to grow 639.30% this quarter before jumping 460.00% for the next one. The rating firms project that company’s revenue will grow 62.30% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $389.77 million. Meanwhile, for the quarter ending Dec 2021, a total of 5 analyst(s) estimate revenue growth to $336.73 million.

SBLK Dividends

Star Bulk Carriers Corp. has its next earnings report out on November 16. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Star Bulk Carriers Corp. has a forward dividend ratio of 1.00, with the share yield ticking at 4.22% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s Major holders

Star Bulk Carriers Corp. insiders hold 10.69% of total outstanding shares, with institutional holders owning 66.55% of the shares at 74.51% float percentage. In total, 66.55% institutions holds shares in the company, led by Oaktree Capital Management, LP. As of Jun 29, 2021, the company held over 25.99 million shares (or 25.42% of shares), all amounting to roughly $596.54 million.

The next major institution holding the largest number of shares is FMR, LLC with 10.22 million shares, or about 10.00% of shares outstanding. As of the market price on Jun 29, 2021, these shares were worth $234.64 million.

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We also have Fidelity Balanced Fund and Fidelity Blue Chip Growth Fund as the top two Mutual Funds with the largest holdings of the Star Bulk Carriers Corp. (SBLK) shares. Going by data provided on Jul 30, 2021, Fidelity Balanced Fund holds roughly 2.6 million shares. This is just over 2.55% of the total shares, with a market valuation of $49.54 million. Data from the same date shows that the other fund manager holds a little less at 0.93 million, or 0.91% of the shares, all valued at about 17.7 million.

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