SBLK - Star Bulk Carriers Is Fairly Priced But Not Cheap (Rating Downgrade)
2024-06-06 10:32:26 ET
Summary
- Star Bulk Carriers' share price has increased by 20% since February and 44% since November 2023.
- Q1 financial results show a net EPS of $0.87 and $1 per share in free cash flow from operation.
- SBLK has a solid balance sheet, low operating costs, and we particularly like the large fleet of 75 Ultramax and Supramax vessels.
Investment Thesis
In our last article on Star Bulk Carriers ( SBLK ) in February this year, we continued our Buy stance based on favorable supply and demand dynamics.
The share price has gone up by 20% since February and if we look at the return since the 10th of November 2023, which was our earlier Buy call, it is up 44%....
Star Bulk Carriers Is Fairly Priced, But Not Cheap (Rating Downgrade)