Safe Bulkers (NYSE:SB) Sets New 52-Week High – Time to Buy?

Safe Bulkers, Inc (NYSE:SB)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $6.60 and last traded at $6.6030, with a volume of 232116 shares traded. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. Jefferies Financial Group lifted their target price on Safe Bulkers from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Safe Bulkers currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Safe Bulkers Price Performance

The stock has a fifty day moving average of $5.47 and a 200-day moving average of $4.92. The company has a quick ratio of 2.72, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $681.01 million, a price-to-earnings ratio of 22.18 and a beta of 1.03.

Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, February 18th. The shipping company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.The company had revenue of $72.57 million for the quarter, compared to the consensus estimate of $70.00 million. On average, equities research analysts predict that Safe Bulkers, Inc will post 0.62 EPS for the current fiscal year.

Safe Bulkers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 3.0%. Safe Bulkers’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Safe Bulkers

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in shares of Safe Bulkers by 30.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock valued at $12,778,000 after buying an additional 617,711 shares during the period. Millennium Management LLC purchased a new position in Safe Bulkers during the fourth quarter worth about $1,571,000. American Century Companies Inc. raised its stake in Safe Bulkers by 16.6% during the second quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock worth $5,202,000 after purchasing an additional 204,874 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Safe Bulkers in the third quarter worth about $629,000. Finally, UBS Group AG raised its stake in Safe Bulkers by 17.3% during the fourth quarter. UBS Group AG now owns 806,379 shares of the shipping company’s stock valued at $3,887,000 after buying an additional 118,681 shares in the last quarter. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.