Safe Bulkers (NYSE:SB) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a buy rating in a report released on Saturday morning.

Safe Bulkers Stock Performance

Safe Bulkers stock opened at $7.02 on Friday. Safe Bulkers has a 1 year low of $3.53 and a 1 year high of $7.38. The company has a market cap of $718.27 million, a PE ratio of 23.41 and a beta of 0.89. The company has a current ratio of 2.90, a quick ratio of 2.63 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average is $6.51 and its two-hundred day moving average is $5.70.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. The company had revenue of $72.57 million for the quarter, compared to the consensus estimate of $70.00 million. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.

Safe Bulkers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.20 annualized dividend and a yield of 2.8%. Safe Bulkers’s payout ratio is currently 66.67%.

Institutional Trading of Safe Bulkers

A number of institutional investors have recently modified their holdings of SB. PNC Financial Services Group Inc. boosted its position in Safe Bulkers by 77.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock worth $31,000 after acquiring an additional 2,150 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Safe Bulkers by 5.9% in the second quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company’s stock worth $156,000 after purchasing an additional 2,423 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Safe Bulkers by 17.3% during the first quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company’s stock worth $132,000 after purchasing an additional 3,079 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Safe Bulkers by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 116,912 shares of the shipping company’s stock worth $588,000 after purchasing an additional 3,148 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Safe Bulkers by 0.6% in 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. 21.69% of the stock is currently owned by institutional investors.

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.