Star Bulk Carriers Corp. (NASDAQ:SBLK) price on Friday, August 27, rose 2.95% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $23.03.
A look at the stock’s price movement, the level at last check in today’s session was $22.37, moving within a range at $21.93 and $22.60. The beta value (5-Year monthly) was 1.30 while the PE ratio in trailing twelve months stood at 10.63. Turning to its 52-week performance, $25.24 and $6.12 were the 52-week high and 52-week low respectively. Overall, SBLK moved 19.56% over the past month.
Star Bulk Carriers Corp.’s market cap currently stands at around $2.30 billion, with investors looking forward to this quarter’s earnings report slated for Nov 16, 2021. The company has a Forward Dividend ratio of 1.20, with its dividend yield at 5.36%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $1.31, which has seen fiscal year 2021 EPS growth forecast to increase to $5.38 and about $4.8 for fiscal year 2022. Per the data, EPS growth is expected to be 3,064.70% for 2021 and -10.80% for the next financial year.
Analysts have a consensus estimate of $311.41 million for the company’s revenue for the quarter, with a low and high estimate of $242 million and $360.17 million respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $1.16 billion, representing a 68.00% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that SBLK is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 9 recommend SBLK as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SBLK’s current price about 13.51% and 12.98% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 68.06, while 7-day volatility ratio is 4.11% and 4.89% in the 30-day chart. Further, Star Bulk Carriers Corp. (SBLK) has a beta value of 1.16, and an average true range (ATR) of 0.99. Analysts have given the company’s stock an average 52-week price target of $29.20, forecast between a low of $10.00 and high of $40.00. Looking at the price targets, the low is 56.58% off recent price level in today’s trading while to achieve the yearly target high, it has to move -73.69%. Nonetheless, investors will most likely welcome a -25.92% jump to $29.00 which is the analysts’ median price.
In the market, a comparison of Star Bulk Carriers Corp. (SBLK) and its peers suggest the former has performed considerably stronger. Data shows SBLK’s intraday price has changed 2.95% today and 227.53% over the past year. Looking at another peer, we see that Diana Shipping Inc. (DSX) price has gained 5.05% on the day. However, the stock is 238.73% off its price today a year ago. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.76% and 0.60% respectively on the day as seen in early trades.
If we refocus on Star Bulk Carriers Corp. (NASDAQ:SBLK), historical trading data shows that trading volumes averaged 2.28 million over the past 10 days and 1.85 million over the past 3 months. The company’s latest data on shares outstanding shows there are 101.80 million shares.
The 19.80% of Star Bulk Carriers Corp.’s shares are in the hands of company insiders while institutional holders own 63.60% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.08 million on May 27, 2021, giving us a short ratio of 0.47. The data shows that as of May 27, 2021 short interest in Star Bulk Carriers Corp. (SBLK) stood at 1.06% of shares outstanding, with shares short rising to 0.7 million registered in Apr 29, 2021. Current price change has pushed the stock 153.34% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SBLK stock continues to rise going into the next quarter.