Safe Bulkers (NYSE:SB) Issues Earnings Results

Safe Bulkers (NYSE:SB) announced its earnings results on Wednesday. The shipping company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14, FiscalAI reports. Safe Bulkers had a return on equity of 5.18% and a net margin of 16.78%.

Safe Bulkers Trading Up 1.8%

Shares of NYSE:SB traded up $0.11 on Wednesday, reaching $6.16. 842,597 shares of the company traded hands, compared to its average volume of 662,836. The business’s 50-day simple moving average is $5.25 and its 200 day simple moving average is $4.80. Safe Bulkers has a 52 week low of $3.02 and a 52 week high of $6.21. The stock has a market capitalization of $630.35 million, a P/E ratio of 17.11 and a beta of 1.13. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.58.

Safe Bulkers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Monday, December 8th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, December 8th. Safe Bulkers’s dividend payout ratio is presently 55.56%.

Hedge Funds Weigh In On Safe Bulkers

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of Safe Bulkers by 5.9% during the second quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company’s stock valued at $156,000 after purchasing an additional 2,423 shares during the period. Vanguard Group Inc. raised its holdings in Safe Bulkers by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 765,593 shares of the shipping company’s stock valued at $3,399,000 after buying an additional 4,300 shares during the last quarter. AQR Capital Management LLC boosted its position in Safe Bulkers by 4.7% during the 4th quarter. AQR Capital Management LLC now owns 104,626 shares of the shipping company’s stock valued at $504,000 after buying an additional 4,651 shares during the period. Tower Research Capital LLC TRC grew its holdings in Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after acquiring an additional 4,692 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Safe Bulkers by 3.7% in the 1st quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company’s stock worth $501,000 after acquiring an additional 4,836 shares during the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.