Safe Bulkers (NYSE:SB) Posts Quarterly Earnings Results, Meets Expectations

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

Safe Bulkers Stock Performance

SB stock traded up $0.11 during midday trading on Wednesday, reaching $6.16. 842,597 shares of the company’s stock traded hands, compared to its average volume of 662,836. The firm has a market capitalization of $630.35 million, a PE ratio of 17.11 and a beta of 1.13. The company has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $4.80. Safe Bulkers has a 52 week low of $3.02 and a 52 week high of $6.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.72 and a current ratio of 2.72.

Safe Bulkers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Monday, December 8th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, December 8th. Safe Bulkers’s payout ratio is currently 55.56%.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of Safe Bulkers by 6.0% in the fourth quarter. Empowered Funds LLC now owns 645,834 shares of the shipping company’s stock valued at $3,113,000 after acquiring an additional 36,356 shares during the period. XTX Topco Ltd boosted its holdings in Safe Bulkers by 86.5% in the 4th quarter. XTX Topco Ltd now owns 68,984 shares of the shipping company’s stock valued at $333,000 after purchasing an additional 32,001 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in Safe Bulkers by 296.2% in the 4th 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 during the period. Polymer Capital Management US LLC purchased a new position in shares of Safe Bulkers during the 4th quarter valued at $151,000. Finally, Odyssean LLC bought a new position in shares of Safe Bulkers in the fourth quarter worth $143,000. 21.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SB has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Safe Bulkers from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Safe Bulkers currently has a consensus rating of “Hold” and an average price target of $6.00.

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.