Star Bulk Carriers Corp (NASDAQ:SBLK) traded at $23.24 at last check on Wednesday, March 20, made a downward move of -1.53% on its previous day’s price.
Looking at the stock we see that its previous close was $23.60 and the beta (5Y monthly) reads 1.13. The company has a trailing 12-month PE ratio of 13.04. In terms of its 52-week price range, SBLK has a high of $25.16 and a low of $16.57. The company’s stock has gained about 6.31% over that past 30 days.
Star Bulk Carriers Corp has a market cap of $1.95 billion and is expected to release its quarterly earnings report on May 14, 2024 – May 20, 2024. With its Forward Dividend at 1.42 and a yield of 6.11%, the company’s investors could be anxious for the SBLK stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.8, with the EPS growth for the year raised at $4.15 for 2024 and $5.08 for next year. These figures represent 125.50% and 22.40% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $198.95 million, with a low of $197 million and a high of $201 million. The median projection represents growth squeezing down to 27.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $879.12 million, or -7.40% down from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SBLK stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is -2.76% off its SMA20 and 3.10% from its 50-day simple moving average. The RSI (14) is pointing at 47.84 while the volatility over the past week is 2.31% and jumps to 2.37% over the past one month. The beta value is 1.14, while the average true range (ATR) is currently pointing at 0.65.
Coming back to Star Bulk Carriers Corp (NASDAQ:SBLK), we note that the average 3-month trading volume was 1.36 million, while that of the preceding 10-day period stands at 1.78 million. Current shares outstanding are 84.02 million.
The insiders hold 7.13% of the company’s shares while institutions hold 40.51%. The data shows that short shares as of Feb 29, 2024, stood at 3.85 million at a short ratio of 2.68. This represents a 4.58% short interest in shares outstanding on Feb 29, 2024. Shares short rose in February from the previous month at 2.88 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 9.31% up in year-to-date price movement.
