Safe Bulkers (NYSE:SB) Reaches New 12-Month High – Time to Buy?

Shares of Safe Bulkers, Inc (NYSE:SB) hit a new 52-week high on Tuesday . The stock traded as high as $6.20 and last traded at $6.1750, with a volume of 677398 shares trading hands. The stock had previously closed at $6.15.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SB shares. Jefferies Financial Group lifted their price objective 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 restated a “hold (c+)” rating on shares of Safe Bulkers in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Safe Bulkers presently has an average rating of “Hold” and an average target price of $6.00.

Safe Bulkers Trading Up 0.4%

The company has a market cap of $631.89 million, a P/E ratio of 20.58 and a beta of 1.13. The firm has a 50-day moving average of $5.34 and a 200 day moving average of $4.86. 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 (NYSE:SB) last issued its quarterly earnings results on Wednesday, February 18th. The shipping company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $72.57 million for the quarter, compared to analyst estimates of $70.00 million. Safe Bulkers had a return on equity of 4.92% and a net margin of 13.99%. On average, analysts predict that Safe Bulkers, Inc will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 2nd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, March 2nd. Safe Bulkers’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Safe Bulkers

Several institutional investors have recently made changes to their positions in SB. Tower Research Capital LLC TRC boosted its position in shares of Safe Bulkers by 73.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after purchasing an additional 4,692 shares in the last quarter. Cetera Investment Advisers acquired a new position in Safe Bulkers during the 2nd quarter worth approximately $41,000. Susquehanna Fundamental Investments LLC acquired a new position in Safe Bulkers during the 3rd quarter worth approximately $46,000. Evergreen Capital Management LLC bought a new position in Safe Bulkers in the second quarter worth approximately $46,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Safe Bulkers in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds 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.