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Is Star Bulk Carriers Corp. Stock Good For Long-Term Investing?

Star Bulk Carriers Corp. (NASDAQ:SBLK) traded at $19.92 at last check on Wednesday, November 23, made a downward move of -0.48% on its previous day’s price.

Looking at the stock we see that its previous close was $20.02 and the beta (5Y monthly) reads 1.05 with the day’s price range being $19.97 – $20.46. The company has a trailing 12-month PE ratio of 2.30. In terms of its 52-week price range, SBLK has a high of $33.99 and a low of $16.85. The company’s stock has gained about 5.48% over that past 30 days.

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Star Bulk Carriers Corp. has a market cap of $2.09 billion and is expected to release its quarterly earnings report on Feb 14, 2023 – Feb 20, 2023. With its Forward Dividend at 6.60 and a yield of 32.97%, 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 $1.39, with the EPS growth for the year raised at $6.53 for 2022 and $3.88 for next year. These figures represent -4.30% and -40.60% 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 $273.83 million, with a low of $258.77 million and a high of $288 million. The median projection represents growth adding up to -22.80% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $1.2 billion, or -16.20% 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 25% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 7 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Star Bulk Carriers Corp. (SBLK) stock as a Hold, while 6 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 3.53% off its SMA20 and 3.14% from its 50-day simple moving average. The RSI (14) is pointing at 52.52 while the volatility over the past week is 5.51% and jumps to 4.34% over the past one month. The beta value is 1.03, while the average true range (ATR) is currently pointing at 0.94. The average price target for the stock over the next 12 months is $28.71, with the estimates having a low of $22.00 and a high of $34.00. These price ends are -10.44% and -70.68% off the today’s price level respectively, although investors could be excited at the prospect of a -45.58% if the SBLK share price touches on the median price of $29.00.

Let’s briefly compare Star Bulk Carriers Corp. (SBLK) stock to its peers. We find that today’s price change of -0.48% and 4.93% over the past 12 months for SBLK. Another of its peers Diana Shipping Inc. (DSX) has gained 0.70% today, and was 14.57% up over the past year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.51% and 0.24%, respectively, in early deals.

Coming back to Star Bulk Carriers Corp. (NASDAQ:SBLK), we note that the average 3-month trading volume was 2.23 million, while that of the preceding 10-day period stands at 2.26 million. Current shares outstanding are 102.22 million.

The insiders hold 19.80% of the company’s shares while institutions hold 48.60%. The data shows that short shares as of Oct 13, 2022, stood at 6.99 million at a short ratio of 3.59. This represents a 6.81% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 6.98 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -11.69% down in year-to-date price movement.

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