Safe Bulkers (NYSE:SB – Get Free Report) released its quarterly earnings data on Wednesday. The shipping company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.10 by $0.08, Zacks reports. The company had revenue of $74.39 million for the quarter, compared to the consensus estimate of $65.50 million. Safe Bulkers had a return on equity of 6.49% and a net margin of 18.73%.
Safe Bulkers Stock Performance
Shares of SB stock opened at $6.67 on Friday. The firm has a market cap of $681.56 million, a price-to-earnings ratio of 14.81 and a beta of 0.85. The company’s 50 day moving average is $6.70 and its 200 day moving average is $6.02. The company has a quick ratio of 2.63, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. Safe Bulkers has a 52-week low of $3.56 and a 52-week high of $7.38.
Safe Bulkers Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.06 per share. This is a boost from Safe Bulkers’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, June 30th. Safe Bulkers’s payout ratio is 66.67%.
Analysts Set New Price Targets
View Our Latest Stock Analysis on SB
Institutional Trading of Safe Bulkers
A number of hedge funds have recently bought and sold shares of SB. Mercer Global Advisors Inc. ADV bought a new stake in Safe Bulkers during the 4th quarter valued at $48,000. Mackenzie Financial Corp bought a new position in shares of Safe Bulkers in the 4th quarter worth $59,000. Empowered Funds LLC lifted its stake in shares of Safe Bulkers by 6.0% during the 4th quarter. Empowered Funds LLC now owns 645,834 shares of the shipping company’s stock worth $3,113,000 after purchasing an additional 36,356 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Safe Bulkers by 86.5% during the 4th quarter. XTX Topco Ltd now owns 68,984 shares of the shipping company’s stock worth $333,000 after purchasing an additional 32,001 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its position in Safe Bulkers by 296.2% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 41,018 shares of the shipping company’s stock valued at $198,000 after purchasing an additional 30,664 shares in the last quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.
About Safe Bulkers
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.
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